CryptoQuant CEO Predicts Bitcoin Bull Market to Extend into Next Year with Revealed Price Target

The CEO of CryptoQuant, Ki Young Ju, predicts that the ongoing Bitcoin bull run will extend into the early months of 2025. Sharing his insights with his social media followers, Ju cautions that while there may be potential downward movement for Bitcoin, possibly nearing the $47,000 mark, he remains optimistic about the continuation of the bull market until next year.

“I believe the Bitcoin bull cycle will continue until early next year,” Ju states. For spot traders, he advises implementing dollar-cost averaging strategies while being mindful of a possible drop to $47,000. He also warns against inexperienced futures traders engaging in high-leverage positions solely based on his social media posts, emphasizing the importance of conducting thorough research before making trading decisions.

Ju’s perspective is primarily focused on spot trading and long-term market cycles, with his warnings about corrections serving as risk indicators. When prompted about a potential price target for the peak of the bull market, Ju references a forecast derived from a realized cap indicator, projecting a peak of $112,000 during the cycle.

Addressing concerns about Western governments selling seized Bitcoin, Ju reassures that the current apprehension may be exaggerated due to the relatively small portion of the market share held by these entities. He points out that despite apprehensions, government-seized BTC contributes only about $9 billion to the realized cap, representing a mere 4% of the total cumulative realized value since 2023. Ju advises traders not to allow fear, uncertainty, and doubt surrounding government selling practices to impact their trading decisions negatively.

As of the latest update, Bitcoin is trading at $57,879. Ju’s analysis and predictions provide valuable insights for traders navigating the dynamic cryptocurrency market landscape. It is essential for traders to stay informed, exercise caution, and conduct independent research to make informed decisions in the ever-evolving crypto space.