Ki Young Ju, the CEO of CryptoQuant, a blockchain analytics platform, predicts that the current bull run of Bitcoin (BTC) will continue until the early months of 2025. In a message to his 351,000 followers on the social media platform X, Ju acknowledges the potential for Bitcoin to experience further downside, possibly around the $47,000 mark, but he remains optimistic about the continuation of the bull market until next year.
Ju advises spot traders to engage in dollar-cost averaging (DCA) while keeping in mind the possibility of a drop to $47,000. He cautions against inexperienced futures traders opening high-leverage long or short positions based solely on his tweets. Ju clarifies that his tweets reflect a perspective on spot trading and the long-term cycle, and his warnings about corrections are intended to highlight the associated risks. He emphasizes the importance of conducting one’s own research (DYOR).
When asked about the potential price target for the top of the bull market, Ju shares a forecast based on a realized cap indicator, which examines the price at which each Bitcoin in a specific cohort was last moved, rather than the current market value. According to Ju, the peak of the cycle could reach $112,000.
Regarding the uncertainty surrounding Western governments selling their seized Bitcoin, Ju believes that this concern is exaggerated due to the relatively small market share of the coins they hold. He points out that government-seized BTC contributes only about $9 billion to the realized cap, which is approximately 4% of the total cumulative realized value since 2023. Ju advises traders not to let the fear, uncertainty, and doubt (FUD) surrounding government selling impact their trades.
As of now, Bitcoin is trading at $57,879.
Disclaimer: The opinions expressed in this article are not investment advice. Investors should conduct their own due diligence before engaging in high-risk investments in Bitcoin, cryptocurrency, or digital assets. Transfers and trades are undertaken at one’s own risk, and any resulting losses are the individual’s responsibility. This article does not recommend the buying or selling of any cryptocurrencies or digital assets, nor does it serve as investment advice. Please note that The Daily Hodl engages in affiliate marketing.
