Ju Ki-young, CEO of cryptocurrency on-chain analysis firm CryptoQuant, has once again drawn attention by sharing his stance on the future price trend and market cycle of Bitcoin (Ba BBTC stated that he would admit his market diagnosis was wrong if Bincorrect if BBTC exceeds $100,000.
CEO Ju mentioned on X (formerly Twitter the that I believed Bitcoin's price would move within a box range, and if BTC breaks through100 000, will publicly acknowledge that my judgment was wrong." He that diagnosed that Although BTC dropped by 10% after mentioning the end end of a bull market, it later rebounded by 10%, indicating that unclear market trends."
He also that hinted that Bitcoin breaks its all-time high before the the fourth quarter of he 2024would abandon his existing 'cycle-based analysis model'. According to him, if the market transitions to a continuous upward trend without a clear cycle, it could become a completely different phase from the emphasized that "market without a cycle clear cycle would be entirely different from what we have experienced so the far, and in this case, it would be a unailateral upupwardend."."
The CEO stated that he would "continue to monitor data a few more weeks to review review whether the current rebound is a temporary overheorheating or an initial signal of a substantial trend reversal," maintaining a cautious attitude.
<> < <>, year, an upamid various factors such as institutional fundflows andf increased ETforETFss. However, experts stillering opinions on whether the market cycle has reached its peak or a new bull market has.This statement suggests the that Ju, who has been diagnosing market cycles based on on-chain data-based analysis models, may go beyond his existing framework, and is expected to serve as an important reference indicator in the industry along with BTC's future price trends.
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