Bitcoin Surges as Institutional Adoption Shifts Market Dynamics
Main Idea
Ki Young Ju, CEO of CryptoQuant, retracted his prediction about the end of the Bitcoin bull market, acknowledging that the traditional cycle theory may no longer apply due to shifts in whale and retail investor behavior.
Key Points
1. Ki Young Ju initially predicted the end of the Bitcoin bull market based on whale accumulation and retail investor behavior but later admitted this model is outdated.
2. Bitcoin historically follows a four-year cycle tied to halving events, but Ki Young Ju now believes this theory may no longer hold.
3. Bear markets could be triggered by major investors like MSTR or IBIT locking in profits, potentially causing panic sales.
4. Despite potential sell-offs, institutional BTC reserves might prevent extreme market downturns in the short term.
5. Bitcoin's price has climbed to $116,800, with historical whale holdings contributing to potential upward momentum.
Description
Ki Young Ju claims the Bitcoin cycle theory is dead, confronting adaptation challenges. Institutional adoption significantly influences Bitcoin's market dynamics, altering the cycle. Continue Reading: Bitcoin Surges as Institutional Adoption Shifts Market Dynamics The post Bitcoin Surges as Institutional Adoption Shifts Market Dynamics appeared first on COINTURK NEWS .
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