It is with no small measure of astonishment that one learns from the esteemed Ki Young Ju, the CEO of CryptoQuant, that our dear Bitcoin (BTC) may indeed descend to the rather modest sum of $77,000, and yet still maintain its bullish disposition in the year of our Lord, 2025. Such audacity! 😏
In a series of posts on the platform known as X, dated February 19, Mr. Ju has posited that a decline of 30% in the price of BTC would not disrupt the current upward trend, which he claims aligns with the historical precedents of yore. How delightfully optimistic! 🎩
CryptoQuant’s Chief Sees No Bearish Clouds on the Horizon “This Year”
Despite a month of rather lackluster price movements, Bitcoin remains ensconced in what Mr. Ju describes as a “bull cycle.” One might wonder if he has been sipping too much of the local tea, for the price has shown little inclination to reclaim the lofty heights of $100,000. ☕️
According to our dear analyst, the higher echelons of price are expected to persist throughout the coming year, albeit with a rather slow commencement. “I do not foresee a bear market this year,” he declared, whilst engaging in a discussion regarding the cost basis of various Bitcoin investors. How reassuring! 🙄
“We are still in a bull cycle. The price shall eventually ascend, though the range appears rather extensive. I daresay the bull cycle could endure even with a -30% dip from the all-time high (for instance, 110K to 77K), as has been observed in cycles past.”
Should the price settle at a local floor of $77,000, it would still keep BTC/USD above the previous cycle’s all-time highs, thus forming a rather popular target for traders eager to witness the market establish a solid foundation. How quaint! 🏰
Mr. Ju has also highlighted several nearby cost bases of interest, including that of the US spot Bitcoin exchange-traded fund (ETF) investors at $89,000, which has served as a support since the month of November. How very convenient! 🎉
As reported by CryptoMoon, new Bitcoin whales have an identical net buy-in level, which augments its significance as a potential turning point should a broader market dip occur in the future. 🐋
Traders on the global exchange Binance have a breakeven point considerably lower at $59,000, while Bitcoin mining companies would find themselves in dire straits at $57,000. Oh, the drama! 🎭
Mr. Ju notes that “falling below this level in past downturns (May 2022, March 2020, November 2018) confirmed a bear market.” How very foreboding! 😱
Post-halving Performance Demands BTC Price Gains
In other news, CryptoQuant has suggested that further price increases for BTC are indeed warranted this cycle, with the contributing analyst Timo Oinonen declaring it “unfinished.” How tantalizing! 🍰
He elucidated in a “Quicktake” blog post on February 17, that since the halving event of last April, BTC/USD has only managed a gain of approximately 60%. How disappointing! 😩
“Despite the ongoing halving cycle, I would anticipate a sell in May effect, a rather uneventful summer, and elevated price levels by the last quarter. The positive seasonality of Q4 has been observed in the years 2013, 2016, 2017, 2020, 2021, 2023, and 2024,” Mr. Oinonen concluded. How very predictable! 📅
“A deeper correction could be multiple months or even a year away.”
Read More
- EUR JPY PREDICTION
- DF PREDICTION. DF cryptocurrency
- Doctor Strange’s Shocking Return in Marvel’s Avengers: Doomsday Revealed!
- TRB PREDICTION. TRB cryptocurrency
- ASTR PREDICTION. ASTR cryptocurrency
- South of Midnight PC Requirements Revealed
- POL PREDICTION. POL cryptocurrency
- COW PREDICTION. COW cryptocurrency
- YFI PREDICTION. YFI cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
2025-02-19 11:31