Ki Younger Ju, the CEO of blockchain analytics platform CryptoQuant, says he’s anticipating the present Bitcoin (BTC) bull run to final till the primary few months of 2025.
Ju tells his 351,000 followers on the social media platform X that whereas he sees the potential for extra draw back for Bitcoin, maybe close to the $47,000 stage, he’s nonetheless anticipating a continuation of the bull market up till early subsequent yr.
“I imagine the Bitcoin bull cycle will proceed till early subsequent yr.
For these buying and selling in spot, it will be sensible to DCA (greenback price common) whereas conserving in thoughts that it might drop to $47,000 from right here.
In case you are not an skilled futures dealer, don’t open high-leverage lengthy or brief positions primarily based on my tweets.
Over the previous month, I’ve not directly warned in opposition to extreme danger, however it appears some persons are nonetheless opening high-leverage lengthy positions primarily based on my tweets in regards to the long-term cycle.
My tweets are from a spot buying and selling and long-term cycle perspective. Warnings about corrections are mentions of danger. All the time DYOR (do your personal analysis).”
When requested for a possible value goal for the bull market prime, Ju reveals a forecast primarily based on a realized cap indicator – an on-chain metric that appears on the value at which every Bitcoin in a given cohort was final moved versus the present market worth.
“$112,000 on the peak of the cycle.”
Ju additionally says that the present uncertainty about Western governments promoting their seized Bitcoin is probably going overblown as a result of comparatively small market share of cash that they maintain.
“Authorities Bitcoin promoting is overestimated.
$224 billion has flowed into this market since 2023. Authorities-seized BTC contributes about $9 billion to the realized cap.
It’s solely 4% of the entire cumulative realized worth since 2023. Don’t let authorities promoting FUD (concern, uncertainty and doubt) wreck your trades.”
At time of writing, Bitcoin is buying and selling at $57,879.
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Disclaimer: Opinions expressed at The Day by day Hodl should not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses it’s possible you’ll incur are your accountability. The Day by day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Day by day Hodl an funding advisor. Please be aware that The Day by day Hodl participates in affiliate internet marketing.
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