CryptoQuant CEO Ki Young Ju made a striking prediction for Bitcoin, which broke a record by rising above $81,000.
The leading crypto Bitcoin (BTC) has been breaking records one after another in recent days. BTC reached an all-time high by touching $81,850 in the morning hours.
The positive outlook in BTC has increased interest in futures. In these days when long (bullish) transactions are increasing, liquidation data has exceeded $500 million.
CryptoQuant CEO Ki Young Ju claimed that the over-demanded futures market will negatively affect the BTC price. Ki Young Ju predicted that BTC could lose nearly 30 percent of its value by the end of the year.
CryptoQuant CEO Ki Young Ju claimed in a post he made on X that the Bitcoin (BTC) price will fall below $59,000 by the end of the year. Ki Young Ju also announced that he would pay 0.1 BTC to a follower who correctly predicted the year-end price of BTC.
The famous CEO made the following statements;
“I was expecting corrections because the BTC futures market indicators were overheating, but we are entering price discovery and the market is heating up even more.”
Stating that the crypto market has entered a significant turn, Ki Young Ju focused on two different scenarios. According to the CEO of CryptoQuant, if a strong year-end rally occurs, a bear cycle could begin in 2025.
Ki Young Ju argued that the markets needed a healthy correction. The famous CEO noted the following sentences;
“If correction and consolidation occur, the bull run may extend”
According to Coinglass data, Bitcoin's open transaction amount in futures and options has exceeded $ 50 billion.
Collective Shift CEO Ben Simpson refuted the CryptoQuant CEO's prediction. Simpson said that the probability of BTC falling back to $58,000 by the end of the year is very low.
Simpson spoke to Cointelegraph and said;
“Trump winning the election, interest rates falling, monetary easing on the way and a billion-dollar Bitcoin ETF volume are attracting more people.”
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