Ki Young Ju is the CEO of the analytics company CryptoQuant. He says there are signs that the retail market for Bitcoin (BTC), which has been gaining strength, will be able to participate more.
Ju informs his 369,000 social media followers that the number of transactions below $100,000 on the Bitcoin Blockchain has increased, indicating that small retail companies are beginning to take positions in BTC.
Ju also shares statistics that show that the larger companies are less active now than they were in late 2021, at the peak of the bull’s market, suggesting BTC hasn’t yet entered a bear’s market.
“Here’s Bitcoin transaction volume over $1M.
Would I be a Giga Whale? I would wait until there was more liquidity to exit. The game is just beginning. Imagine retail FOMO starting at $100K.
“We might see some corrections, but that wouldn’t be the beginning of a downturn, according to my opinion.”
Ju uses the realized cap, a metric that measures the sum of realized profits less realized losses to create a chart that pinpoints potential future bull market tops and bear market bottoms.
Analysts say that $135,000 could be a price goal in the current market cycle.
We’re now in a bull market. Bitcoin is going to go up.
Sorry for the wrong prediction I made about a short-term corrective. Not a bear-market, but a small correction.
“Based on the amount of capital that has been invested in the Bitcoin market to date, it appears as though the upper limit is $135K.”
BTC currently trades at $92,114.
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The post CryptoQuant CEO details rise of smaller bitcoin transactions as BTC gains $92,000. This article may change due to new developments.
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