Bitcoin Bull Run to Last Until Next Year, Says CryptoQuant CEO

CryptoQuant CEO Ki Young Ju is predicting that the current Bitcoin (BTC) bull market will continue until early 2025. While he acknowledges that Bitcoin could dip to around $47,000, he’s still bullish on the overall trend.

$112,000 Price Target

Ju believes the bull market will peak at around $112,000, based on his analysis of the realized cap indicator. This metric considers the price at which each Bitcoin was last moved, providing a more accurate picture of the market than the current market value.

Government Bitcoin Sales Overblown

Ju also downplays concerns about Western governments selling their seized Bitcoin. He points out that these holdings only account for a small portion of the total realized value since 2023.

“Don’t let government selling FUD ruin your trades,” he advises his followers.

DCA and Manage Risk

Ju recommends that spot traders use dollar-cost averaging (DCA) to buy Bitcoin, while acknowledging the potential for a dip. He also cautions against using high leverage in futures trading, emphasizing that his tweets are from a long-term perspective.

“Always DYOR (do your own research),” he reminds his followers.

Disclaimer: This information is for educational purposes only and should not be considered investment advice.