Bitcoin Could Still Explode 5x, but the 10x Days Are Over: CryptoQuant CEO
๐ Ki Young Ju, founder of CryptoQuant, predicts a 3-to-5x rally for Bitcoin in the current cycle, attributing this to a larger base of institutional buyers that moderates extreme price fluctuations.
๐ The PnL Index indicates that Bitcoin holders are experiencing higher profitability levels, with the MVRV metric remaining above 1, suggesting that holders have not gone underwater during this cycle.
๐ฐ Bitcoin recently surpassed $80,500, marking a significant bullish trend, with analysts eyeing resistance levels between $88,000 and $90,000 as the market prepares for potential volatility from upcoming options expiries.
๐ Ki Young Ju, founder of CryptoQuant, predicts a 3-to-5x rally for Bitcoin in the current cycle, attributing this to a larger base of institutional buyers that moderates extreme price fluctuations.
๐ The PnL Index indicates that Bitcoin holders are experiencing higher profitability levels, with the MVRV metric remaining above 1, suggesting that holders have not gone underwater during this cycle.
๐ฐ Bitcoin recently surpassed $80,500, marking a significant bullish trend, with analysts eyeing resistance levels between $88,000 and $90,000 as the market prepares for potential volatility from upcoming options expiries.