According to a prediction posted by CryptoQuant CEO Ki Young Ju on the , there are still many analysts who are bearish on Bitcoin, but his optimism about the cryptocurrency market continues. However, his optimistic prediction has preconditions.
At the same time, he does not deny that the current buying momentum in the cryptocurrency market is still fragile, and he needs to see the confidence of market stability. If Bitcoin can maintain its current level in the next one to two weeks, recovery seems possible. Relatively speaking, if Long-term stagnation in prices could signal the arrival of a bear market, with the current decline more akin to early 2020 than a late-2021 rate hike correction. He attributed the outlook to macroeconomic uncertainty rather than fundamental weaknesses in the cryptocurrency market.
He pointed out that a significant trend is the transfer of Bitcoin from long-term holders to new investors and institutional investors, that is, long-term investors are selling Bitcoin, but new buying is limited, putting Bitcoin price under pressure, but He also reassured investors not to worry too much during market declines. It is more important for the market to maintain the stability of Bitcoin for its long-term growth and acceptance. The current market is mostly panic selling.
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〈MICA Daily｜Analysis: If Bitcoin can stabilize at US$45,000, it is expected to reach a new high within a year〉 This article was first published in "Block Guest".
