Ki Young Ju, the CEO of blockchain analytics platform CryptoQuant, is predicting that the ongoing Bitcoin bull market will continue until mid-2025. He shared this prediction with his 356,900 followers on the social media platform X. According to Ju, Bitcoin’s bull market could last for another year based on BTC’s realized price for accumulation addresses. This means that old whales are taking profits during bull markets, which brings new capital into accumulation addresses and raises realized prices. Based on past cycles, there is typically an 18-month profit realization period, which started four months ago this time.
The realized price of Bitcoin is the average price of BTC in circulation calculated based on the price at which they were last moved. Accumulation addresses are wallets that have received BTC but never spent their stack. Ju’s confidence in his prediction stems from historic precedence, indicating that the current bull market cycle is far from over. He mentioned that he made this prediction for the record so he can boast about it later. Additionally, Ju reassured followers that the widely feared BTC distribution of the defunct crypto exchange Mt. Gox to creditors is not impacting Bitcoin’s price. He shared data showing that there is no price disparity or volume surge at Kraken, and in/outflows are normal. The recent price drop is unrelated to Mt. Gox creditors, and the Gox supply in Kraken should be treated as part of the existing retail supply, sensitive to market sentiment.
Despite Bitcoin trading at $66,221 at the time of writing, which is a 3.38% decrease in the last 24 hours, Ju remains optimistic about the future of the cryptocurrency. To stay updated on the latest developments in the crypto market, readers are encouraged to subscribe to get email alerts delivered directly to their inbox. They can also follow CryptoQuant on X, Facebook, and Telegram for more insights and analysis. As the bull market for Bitcoin continues, it is important to remain informed and make strategic decisions based on reliable data and analysis provided by experts like Ki Young Ju. By following his predictions and staying informed about market trends, investors can navigate the volatile world of cryptocurrencies with confidence.
