CEO of Cryptoquant, Ki Young JU, changes his declining position on Bitcoin (BTC).
Ki Young Jo Recount His 421,400 followers on the X social media platform, which was “wrong” in claiming that the “bull cycle” ended after the leading encryption assets fell to less than 80,000 dollars two months ago.
CEPTOQUANT CEO says that selling on BTC now reduces the “huge flows” stimulated by Bitcoin boxes circulating on the stock exchange (ETFS).
“In the past, the Bitcoin market was very simple. The main players were old whales, miners and new retail investors, who mainly transport the bag to each other. When retailers dried up and the old whales began at the same time, it was relatively easy to predict the seed of the cycle.
But now, Bitcoin market has become more diverse. ETFS, Microstrategy (MSTR), institutional investors, and even government agencies are studying the purchase and sale of bitcoin. In the past, courses for profit were operated when whales were spent in peak, which led to a series of sales and low prices. “
According to Ki Young JU, the increasing acceptance of Bitcoin in the prevailing investment industry disrupts the traditional courses of the main encryption.
“However, it seems that time has come to cancel the theory of the course. The sources of new liquidity have become more nonexpensive, indicating a transition with the merging of the Bitcoin market with traditional financing (Trafi). Now, instead of concern about selling old whales, it is important to focus on developing new phrases.
Bitcoin is trading at $ 10,346 at the time of this report.
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Disclosure: The views expressed in Daily Hodl are not an investment advice. Investors must do due care before making any high -risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and trading on your own responsibility, and any losses you may bear are your responsibility. Daily Hodl does not recommend buying or selling any encrypted currencies or digital assets, and Hodl Daily Andersor is an investment. Please note that the daily Hodl participates in dependent marketing.
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