The CEO of CryptoQuant, Ki Young Ju, predicts that #Bitcoin could rise between three and five times from the lows of this cycle, saying that the bear market ended this summer and a new cycle is already underway. Unlike previous cycles where parabolic rallies of over 10x were seen, Ki Young Ju argues that, due to the larger current market capitalization.
With much stronger institutional participation, market extremes become compressed. This means that even though the increases are no longer of crazy proportions like in the early years, subsequent bear markets also tend to be considerably more moderate, far from the traditional 80% crashes.
The platform’s on-chain data supports the idea that selling pressure has eased after hitting local bottoms in mid-year, giving way to a bullish dynamic backed by the accumulation by long-term investors and improved overall profitability for participants.
With much stronger institutional participation, market extremes become compressed. This means that even though the increases are no longer of crazy proportions like in the early years, subsequent bear markets also tend to be considerably more moderate, far from the traditional 80% crashes.
The platform’s on-chain data supports the idea that selling pressure has eased after hitting local bottoms in mid-year, giving way to a bullish dynamic backed by the accumulation by long-term investors and improved overall profitability for participants.
