The Chief Executive of Market Intelligence Firm Cryptoquant says that in the coming weeks are crucial for Bitcoin (BTC) and reveals what his sausage case scenario for the crypto-koning would look like.
In a new wire, Ki Young Ju tells His 408,700 followers on the social media platform X that he expects this cycle to be the longest bull run in history, but notes that if BTC does not sustain, it could agree with the level of $ 77,000 before he ultimately sets up a recovery.
“Based on the typical two-year cycle, the bullmarkt must last until April 2025-I mentioned this in May 2024. The following month or two will be an important turning point for the BTC market. If every indicator confirms a downtrend, I will admit that I was wrong and posted it.
But as I said before, I think the opportunities to fall below $ 77,000 are low. Even in the worst case I see a big chance to consolidate about $ 77,000 for a few months before I go up again. “
According to Ju, those panic that sells the best crypto assets through market capitalization are loss Because large dips have been customary for BTC in the past. He notes That this time BTC can take a while to recover if the demand for his listed funds (ETFs) looks weak.
“If you sell panic now, you are probably a noob. A correction of 30% in a Bitcoin bull cycle is customary it fell 53% in 2021 and still recovered to an ATH (all time high). Buying when prices rise and sell when they fall, is the worst investment strategy. Invest with a clear plan. ”
Bitcoin acts for $ 85,463 at the time of writing, a decrease of 2.2% during the last 24 hours.
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