CRYPTOQUANT HEAD RAISED BITCOIN FORECAST TO $135,000
Based on the cumulative capital inflow to the bitcoin market, the target price for digital gold in the current cycle is $135,000. This conclusion was reached by the founder and CEO of CryptoQuant, Ki Yun Joo.
Thus, the expert adjusted his February forecast for the quotes of the first cryptocurrency based on realized capitalization. A month earlier, spot bitcoin ETFs began trading.
The head of CryptoQuant suggested that inflows into products would serve as a driver of the bull market, so the price could reach $112,000 by the end of the year.
According to SoSoValue, the total net inflow into exchange-traded funds as of November 15 approached $27.5 billion.
"We are in a bull market. Bitcoin will continue to grow," the analyst emphasized.
However, he warned that this does not mean the absence of corrections, as "the perpetual futures market is overly leveraged."
