PANews reported on October 3 that according to the analysis of Ki Young Ju, founder of the blockchain data analysis platform CryptoQuant, the Bitcoin bull market has begun and is currently in the early stages of a new cycle. Ki Young Ju pointed out that the market has seen significant structural changes, and traditional financial channels such as ETFs have become the main source of liquidity in this cycle. With the cessation of selling by long-term holders and the continued inflow of new capital, Bitcoin has successfully regained the key annual level of $83,000 at the end of September. Ki Young Ju analyzed that due to the expansion of market size and increased institutional participation, the volatility of this cycle will be reduced, and Bitcoin is expected to achieve a 3 to 5 times increase, instead of the previous explosive growth of more than 10 times.
Founder of CryptoQuant: Bitcoin is expected to increase 3 to 5 times in this cycle. More attention should be paid to on-chain behavior to determine whether the market is overheating.
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