Bitcoin Could Still Explode 5x, but the 10x Days Are Over: CryptoQuant CEO
🚀 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.
📈 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.
💰 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.
🚀 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.
📈 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.
💰 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.