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The founder and CEO of the cryptocurrency Ki Young Ju fell his bearish prediction after the The price of Bitcoin broke out above $ 100,000. This decision has taken the entire market by surprise after calls at lower prices have dominated cryptographic space in recent months. While the feeling has returned to the positive, Young has become bullish, explaining the change in its position and what is happening with the market at the moment.
The Bitcoin Bull cycle is not finished
In a X postCEO Ki Young Ju explained how the current market has moved away from the previous cycles. On the one hand, it explains that the market no longer depends on old Bitcoins whales, retail investors and minors to move the market. It was the way to know the top of the cycle, which was when the old whales and the minors unloaded their bags. However, the market has managed to move on and the price of Bitcoin is now better placed to absorb significant sales without problem.
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Young explains that this can be attributed to the diversity of the market so far. The advent of Bitcoin FNB spotwhich were approved by the Securities and Exchange Commission (SEC) in 2024, opened new liquidity avenues. Now, not only new retail investors playing in the field, but also institutional investors who have received an avenue to enter the market and with much larger pockets.
This new and substantial liquidity flow made sure that even the sales of large whales will no longer have an impact on the price of bitcoin as they did. Thus, the CEO believes that it is It’s time to change concentration From old to new.
Given this change in the tide, the CEO Cryptoque said it could be time to throw cycle theory. This is due to changes in the flow of liquidity, because the sources have become more uncertain. “Now, instead of worrying about the sale of old whales, it is more important to focus on the quantity of new liquidity from institutions and FNBs, because this new influx can prevail even on high whale sales,” said Young.
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Nevertheless, it always postulates that the current market does not flash a clear or bullish bearish scheme with regard to the profit cycle. As he explains, the market is still slow around the absorption of all new liquidity from different sources and indicators “always drag around the limit”.
As for the price of bitcoin, it continues to Show strength after going through $ 100,000As a bulls of new heights of all time above $ 109,000. The profitability of investors has also skyrocketed and 99% of all data of intotheblock.
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