Ki Young Ju, CEO of CryptoQuant, a blockchain analytics platform, predicts that the current Bitcoin (BTC) bull run will extend into early 2025. Addressing his 351,000 followers on X, Ju suggests potential downside for Bitcoin around $47,000 but remains optimistic about the continuation of the bull market through early next year.

“I foresee the Bitcoin bull cycle continuing until early next year. For spot traders, consider DCA (dollar cost averaging), bearing in mind the potential drop to $47,000. If you’re not experienced in futures trading, avoid opening high-leverage positions based on my tweets.”

Despite his warnings against high-risk trading strategies, Ju emphasizes his focus on spot trading and the long-term cycle, underscoring the importance of conducting independent research: “I’ve cautioned about risks associated with corrections. Always DYOR (do your own research).”

When queried about a possible price peak for the bull market, Ju cites a forecast derived from a realized cap indicator, projecting “$112,000 at the cycle’s peak.”

Ju also addresses concerns about potential Bitcoin sales by Western governments, downplaying their impact due to the small proportion of seized coins relative to market inflows since 2023. He notes, “Government Bitcoin sales are overstated. Since 2023, $224 billion has entered the market, with seized BTC contributing just $9 billion to the realized cap—merely 4% of the cumulative realized value. Don’t let government selling FUD affect your trades.”

As of the latest update, Bitcoin trades at $57,879.

Source:
Ki Young Ju/X

Source:
Ki Young Ju/X

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should perform their due diligence before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets. All transfers and trades are undertaken at the individual’s own risk, and any resulting losses are the sole responsibility of the investor. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor does it function as an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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