Despite the recent dip in Bitcoin’s price, Ki Young Ju, CEO of Crypto Quant, believes the bull market is far from over.
Bullish Indicators
Ju points to the percentage of Bitcoin’s Realized Cap across different age bands, which shows a positive outlook for 2024. He also credits the success of Spot Bitcoin ETFs as the primary driver behind Bitcoin’s recent surge.
Potential Pullback
While Ju predicts a potential 50% price drop if new whales enter the market at $56,000, he remains confident in the continuation of the bull market.
Retail Investors Still on the Sidelines
Ju believes only 50% of retail investors have entered the market, indicating that there’s still room for Bitcoin to grow. Bitcoin analyst Willy Woo agrees, encouraging investors to buy the dip during this consolidation phase.
