Is the Bitcoin Bull Market Really Here? Positive Outlook from CryptoQuant CEO That Will Excite Investors!
Bitcoin recently reached a new all-time high (ATH) in March, surpassing its previous ATH of $69,000. After this surge, BTC experienced a correction down to the $60,000 level, but it later bounced back.
Amidst ongoing bullish expectations from investors, CryptoQuant CEO Ki Young Ju has shared a new post shedding light on Bitcoin’s current movements. According to the renowned CEO, BTC has entered the real bull market by breaking its previous ATH.
In comparing Bitcoin’s bullish cycle from 2020-2021 to the current cycle, Ju outlined three phases: recovery, breaking the previous ATH in the bull market, and the real bull market. Drawing a parallel between the cycles, he expressed his excitement about Bitcoin, stating that it gives him the same thrill as four years ago.
Ju’s breakdown of the cycles looks like this:
2020-2021 Cycle:
– Recovery: $3,000 → $9,000
– Bull Market to Prior ATH: $9,000 → $19,000
– Real Bull Market: $20,000 → $68,000
2023-2024 Cycle (Projected):
– Recovery: $15,000 → $45,000
– Bull Market to Previous ATH: $45,000 → $68,000
– Real Bull Market: $68,000 → ???? Dollar
Ju’s positive sentiment about Bitcoin’s current trajectory has generated excitement among investors waiting for the real bull market to take off. However, it’s important to note that this information is not investment advice.
Investors can take comfort in the outlook shared by the CryptoQuant CEO and hope that his bullish analysis holds true for the future of Bitcoin.