The Bitcoin Bull, according to Cryptoquant CEO – was not over – unless this main level is crossed
The CEO of a prominent encryption company believes that the bitco (BTC) market has not yet finished the correction to the level of $ 78,000.
CEO of Cryptoquant Ki Young Ju Recount Its 409400 followers on the social media platform X expect severe corrections during bulls, and Bitcoin may return soon to six numbers.
However, it warns that if Bitcoin decreases much lower than 75,000 dollars, it is possible that the end of the current emerging market cycle.
“I am upward. The bull cycle is not over. The course I have indicated has a potentially 30 % clouds at some point. If the price drops much less than 75,000 dollars, I will be wrong. I haven’t changed my position. I was consistent with the bull cycle and the possibility of correction 30 %.”
It is too Secure Bitcoin may remain in the standardization stage for a longer period based on the immediate trading scale, similar to a pattern in early 2024, before the domain penetrates about $ 100,000.
Bitcoin spot was very active about $ 100,000. In the distribution stages, prices decrease when new liquidity dries. The main question about whether the BTC market will face years of bear markets is: Where will the new liquidity come from?
We will likely see an extensive monotheism in the wide range (for example, $ 75,000-100,000 dollars), similar to early 2024, in my opinion. This may continue to bring some good news to the new liquidity bitcoin. “
Bitcoin is trading $ 84,247 at the time of writing, a decrease of 22.1 % of its highest level ever at $ 108,786, which it achieved on January 20.
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