Markets
CryptoQuant CEO Reveals Bitcoin Bull Market Timeline, Says Mt. Gox Refunds Have No Impact on BTC Price
Ki Young Ju, CEO of blockchain analytics platform CryptoQuant, predicts when the current Bitcoin (BTC) the bull market will peak.
I swear tells His 356,900 followers on social media platform X argue that Bitcoin’s bull market could continue for another year, based on the price BTC realizes for accumulation addresses.
“Bitcoin bull cycle likely to last until mid-2025. Old whales take profits during bull markets. Their sales bring new capital into accumulation addresses, increasing realized prices. Past cycles had profit realization periods of about 18 months. This time it started four months ago.”
Source: Ki Young Ju/X
The realized price is the average price of Bitcoin in circulation calculated based on the price at which they were last moved. Meanwhile, accumulation addresses are wallets that have received BTC but have never spent their stack.
I swear He says He believes that, based on historical precedent, the bull cycle is far from over.
“I know this is kind of an extrapolated forecast, but it seems pretty clear that we are still in the early stages of a bull market. I wrote this forecast just for the record, so I can brag about it later.”
You too He says that the defunct cryptocurrency exchange Mt. Gox’s feared BTC distribution to creditors is having no effect impact on the price of Bitcoin.
“Checking Mt. Gox creditors data: No price disparity or volume increase at Kraken; inflows/outflows are normal. Recent price drop not related to Gox creditors. Gox offering to Kraken should be treated as part of existing retail offering. It is just sensitive to market sentiment…
The price of Bitcoin is actually higher now than it was when Mt. Gox creditors were repaid.”
Source: Ki Young Ju/X
At the time of writing, Bitcoin is trading at $66,221, down 3.38% in the last 24 hours.
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