30s Summary

CryptoQuant CEO, Ki Young Ju, predicts that Bitcoin could reach $135,000, with his calculations based on investment flows into Bitcoin, including from exchange-traded funds. He warns traders about price drops and over-leveraged markets which can cause significant price dips. CryptoQuant contributor Percival notes that some long-term Bitcoin holders are cashing out at $90,000, while others are holding on for higher returns. BaroVirtual, another contributor, mentions a potential drop to $70,000 on the way to $100,000, unless Bitcoin remains above $85,000 in the coming weeks or months.

Full Article

The founder and CEO of CryptoQuant, Ki Young Ju, is now betting that Bitcoin could reach $135,000. He predicts it could be around $112,000 by 2024. His calculations are based on the flow of money into Bitcoin, including from exchange-traded funds. But, these are just current projections, so don’t take them as gospel – they can change. Ki Young Ju also warns traders not to get too comfy.

He reminds us: “Keep in mind that price drops happen. As I’ve mentioned before, the futures market is super leveraged right now. Stay optimistic about the long-term trend, but be careful—especially if you’re a trader.”

He also gave a heads up recently that the BTC-USDT market was showing signs of being way over-leveraged, almost three-fold since early 2024. Over-leveraged markets can lead to a cascade of sell-offs, causing a significant price dip.

“We’re in a bull market, Bitcoin will go up,” says Ju. But, it’s uncertain exactly where Bitcoin’s price will head next.

One of CryptoQuant’s contributors, Percival, recently argued that long-term Bitcoin holders (people who have held Bitcoin for 155 days or more) were cashing out at the $90,000 price point.

Percival also notes that this group’s behavior doesn’t speak for all long-term Bitcoin holders. He believes most of them will hold on to their Bitcoin, expecting their investment to pay off even better. Percival says Bitcoin has to reach much higher prices for these holders to see profits of 10 times or more.

As for the short term, another CryptoQuant contributor, BaroVirtual, has called for a potential price drop in Bitcoin to $70,000 on its way to $100,000. But, others think this adjustment can be avoided if Bitcoin manages to stay above $85,000 over the next few weeks and months.