The CEO of Cryptoquant claims that the Bitcoin bull run is far from over, although falling prices have sent shockwaves through the crypto-verse.
The idea that the Bitcoin bull run is ending has gained traction as prices continue to decline. However, Ki Young Ju, CEO of Cryptoquant, projects a future price spike and contends that bear market claims are improbable given the current circumstances.
Predicting The Longest Bitcoin Bull Run
In an X post, Ki Young Ju predicted that the price of Bitcoin (BTC) would rise significantly, possibly reaching 2025. On-chain indicators are currently hovering around the “bull-bear boundary,” but Ju believes a Bitcoin bull run is almost inevitable.
The CEO of Cryptoquant bases his assertions on the historic two-year cycles of Bitcoin and suggests that April 2025 is a likely end date. If his forecasts come true, the leading cryptocurrency will experience the longest Bitcoin bull run, pushing prices to all-time highs.
Although there are few indicators of a bull run, Ju predicts that the upcoming month will confirm the market’s direction. According to Ju, asset demand following institutional withdrawals from exchange-traded funds (ETF) is a crucial indicator to keep an eye on.
The $77K Mark Will Be The Worst-case Scenario
Ju believes that despite its recent decline, Bitcoin will not fall below $77,000; a long-term consolidation at that level would be the worst-case scenario. Bitcoin has lost 20% in a week filled with outflows and black swan events, and it is currently trading at $85,000.
Ju stated he sees a high probability of consolidating around 77K for a few months before moving back up, even in the worst scenario.
Ju cautioned traders to proceed cautiously as he concluded his forecasts by cautioning against leveraged directional bets.
