Unstoppable Bitcoin? CryptoQuant’s CEO Foresees Bull Run Extending To 2025
18 Maggio 2024 - 12:00AM
NEWSBTC
According to Ki Young Ju, CEO of CryptoQuant, the Bitcoin current
market dynamics suggest a bullish phase that could extend well into
April 2025. Ju’s analysis comes amid BTC’s current uptrend, which
appears to be a continuation of that seen in March, when BTC
achieved a new all-time high, surging above $73,000 for the first
time. Related Reading: Analyst Utilizes Supply And Demand
Principles To Determine Bitcoin Price Bitcoin Market Cap Growth
Indicates Prolonged Uptrend, Says CryptoQuant CEO Notably, Ki Young
Ju’s prediction stems from an analysis of Bitcoin’s market
capitalization growth, which has been outpacing its realized
capitalization — a measure of the market’s aggregate cost basis.
This trend is a classic indicator of a strong bullish cycle and has
been a reliable harbinger of sustained upward momentum in past
market cycles. Ju’s analysis highlights that the market cap’s rapid
growth compared to the realized cap suggests increased investor
confidence and market momentum. This pattern has historically
signaled prolonged bullish phases. If the current trends persist,
this cycle is expected to continue, leading to significant gains in
Bitcoin’s value over the next year and a half. #Bitcoin is in the
middle of the bull cycle. Its market cap is growing faster than its
realized cap, a trend that typically lasts around two years. If
this pattern continues, the bull cycle might end by April 2025.
pic.twitter.com/o4k8B1Rkhv — Ki Young Ju (@ki_young_ju) May 17,
2024 Bitcoin has shown a positive trend, with a 1.9% increase in
the past 24 hours and an over 12% rise in the past two weeks. At
the time of writing, it is trading around $67,201. Institutional
Adoption And Market Sentiments Underpin Bullish Outlook The
optimistic outlook for BTC is not just based on historical trends
and market cap analysis. Recent developments in institutional
adoption provide further support for this positive trajectory.
Anthony Scaramucci, the founder and managing partner of SkyBridge
Capital and a notable Bitcoin advocate, recently discussed on
CNBC’s Squawk Box how US pension funds are beginning to invest in
BTC. “When you do the homework on Bitcoin, you go towards
Bitcoin…sometimes when you’re early you get some bumps and scrapes,
but I think it pays to be early in Bitcoin and we are still early
in Bitcoin,” says SkyBridge Capital’s Anthony Scaramucci.
pic.twitter.com/HTfbwH5VJG — Squawk Box (@SquawkCNBC) May 16, 2024
This move by institutional investors, such as the State of
Wisconsin Investment Board’s approximately $100 million investment
in BTC, signals a broader acceptance and integration of BTC into
traditional financial portfolios. Scaramucci emphasized that
institutional BTC adoption is unfolding rapidly, and he anticipates
more pension funds will pursue Bitcoin investments. He pointed out
that regulatory approvals have opened the doors for large-scale
institutional participation in BTC. This endorsement will make
Bitcoin a staple in these institutions’ long-term asset allocation
strategies. According to Scaramucci, understanding Bitcoin and the
history of money is key to recognizing its potential. Related
Reading: Bitcoin To $100,000: Infamous Head And Shoulders Pattern
Appears To Signal The Start Of Another Rally He remarked, Being
early in Bitcoin is profitable, and “we are still early… sometimes
when you’re early you get some bumps and scrapes.” Featured image
created with DALL·E, Chart from TradingView
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