While the leading cryptocurrency Bitcoin (BTC) is having difficulty rising, questions about whether the bull is over have begun to increase.
At this point, CryptoQuant CEO Ki Young Ju came with news that would please investors.
Sharing from his X account, Ju argued that there is a risk that Bitcoin could fall to $77,000 within the year, but the bull market will still continue.
The famous CEO claimed that Bitcoin remains in a bull cycle despite being sideways for a month and not being able to regain $100,000.
Ju said that Bitcoin had a slow start to 2025 but he expects higher levels to be seen throughout 2025.
Ju stated that there will be no bear market this year and said:
“I don’t think we’re going to enter a bear market this year.
We are still in a bull cycle. The price will eventually move higher, but the range looks wide.
Personally, I think the bull cycle can continue even if there is a 30% drop from ATH (e.g. 110K → 77K) as seen in past cycles.
The CryptoQuant CEO also pointed to several critical cost floors for U.S. spot Bitcoin ETF investors, including the $89,000 total cost floor, noting that $89,000 has served as a key support since November.
*This is not investment advice.
Continue Reading: Bitcoin (BTC) Is Having Trouble Rising! Or Is the Bull Over? CryptoQuant CEO Explained!
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Author: NixCoin
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