Ki Young Ju, CEO of CryptoQuant, a blockchain analytics platform, predicts that the ongoing Bitcoin (BTC) bull market will extend into early 2025. Speaking to his 351,000 followers on X, Ju acknowledges potential downside risks for Bitcoin, suggesting a possible dip towards $47,000. However, he remains optimistic about the continuation of the bullish trend until the beginning of next year.

“I anticipate the Bitcoin bull cycle will persist until early next year. For spot traders, adopting a dollar-cost averaging strategy is prudent, while keeping in mind the potential drop to $47,000 from current levels. If you’re not experienced in futures trading, avoid opening high-leverage positions based solely on my tweets.”

“Despite my recent warnings against excessive risk, it appears some are still opening high-leverage positions, influenced by my tweets on the long-term cycle. My tweets focus on spot trading and long-term cycles, highlighting risks and advocating for DYOR (do your own research).”

Responding to inquiries about a possible price target for the peak of the bull market, Ju cites a forecast based on a realized cap indicator—an on-chain metric gauging the price at which each Bitcoin in a specific cohort was last moved rather than its current market value.

“$112,000 is projected as the peak during this cycle.”

Ju also addresses concerns about Western governments liquidating seized Bitcoin, suggesting the fear may be overstated due to the relatively minor market share of such coins.

“The selling of government-held Bitcoin is exaggerated. Since 2023, approximately $224 billion has entered the market, with seized BTC contributing about $9 billion to the realized cap. This amounts to only 4% of the total cumulative realized value since 2023. Don’t let concerns over government sales disrupt your trading strategies.”

At the time of reporting, Bitcoin is trading at $57,879.

Source:
Ki Young Ju/X

Source:
Ki Young Ju/X

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