- Bitcoin’s current bull run is supported by strong capital inflows, with an estimated upper limit of $135K.
- Institutional and governmental interest in Bitcoin grows amid economic uncertainty and shifting regulations, boosting its appeal as a store of value.
Ki Young Ju, CEO of CryptoQuant, has reiterated his bullish view on Bitcoin (BTC), claiming that the cryptocurrency industry is firmly in a bull run. He underlined that his earlier forecast of a temporary downturn was more of a small change inside a larger uptrend than of a bear market.
Based on total capital streaming into the market, Ju believes that, given Bitcoin’s notable rise, its current upper limit might reach $135,000.
We're in the bull market. #Bitcoin will go up.
Apologies for my off prediction on the short-term correction. I wasn't implying a bear market, just a correction.
Based on the cumulative capital flowing into the #Bitcoin market, the current upper limit appears to be $135K. https://t.co/hd09s1TJo4 pic.twitter.com/RB3lv3fw6w
— Ki Young Ju (@ki_young_ju) November 17, 2024
Navigating Risks Amid Bullish Bitcoin Projections
Ju has underlined risks connected to the present market structure even with this bullish view. He pointed out that present overlevers in Bitcoin futures markets could magnify volatility and raise the possibility of a brief price drop.
Therefore, even if the long-term attitude is still quite favorable, investors should approach leveraged trading carefully, considering the higher dangers during such times of market frenzy.
Ju’s projection, which fits forecasts that the bull market would last into mid-2025 with Bitcoin perhaps peaking at about $112,000, adds to the excitement.
Macroeconomic indicators and growing institutional acceptance support this long-term prognosis, which keeps raising faith in Bitcoin’s function as a store of value. Still, volatility defines the crypto space and emphasizes the need for wise and smart investing choices.
On the other hand, CNF previously noted that, drawing inspiration from Bhutan’s strategic Bitcoin reserve strategy, countries can choose Bitcoin as a buffer against the devaluation of currencies. Growing economic uncertainties and changing regulatory environments are driving corporate and government interest in Bitcoin to explode.
Driven in part by post-election hope in the United States, Bitcoin has skyrocketed over 100% this year. Many expect legislative measures confirming Bitcoin’s place in the global financial ecosystem as President Trump takes office with a Congress inclined toward crypto.
Meanwhile, as of writing, BTC is trading at almost $91,745.42, keeping its strong bullish trend. Bullish sentiment keeps driving retail and institutional interest as well as national state accumulation. Bitcoin’s market cap has returned to $1.8 trillion after momentarily dipping below this important mark.
