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CryptoQuant CEO: There is no bubble yet, in fact we are back to the pre-ETF period

Bitcoin, which rose to $73,000 in March, could not show the expected upward movement later, while CryptoQuant CEO Ki Young Ju said that he expects the bull season to continue with increases, especially in the 4th quarter. Young Ju said, "Demand in the US should increase again. We are still in the middle of the cycle, the influx of small investors has not started yet, a bubble has not formed."

While it is considered certain that the Federal Reserve (Fed) will officially start interest rate cuts on September 18 in the US, cryptocurrency and stock investors have also entered into an expectation of an increase...

“4. “It starts in the 4th quarter”

Ki Young Ju, CEO of on-chain analytics platform CryptoQuant, also tweeted that he expects the rise to start in the 4th quarter and that he still has not seen an influx of small investors:

“Bitcoin spot trading dominance on Coinbase has returned to the period before spot ETFs were accepted. I think the bull season will continue. However, for this to happen, US demand needs to increase. I expect demand to increase in the 4th quarter. Of course, I could be wrong. We are in the middle of the cycle right now and the small investor bubble has not formed yet.”

As it will be remembered, Bitcoin broke its historical record with $73,000 on March 13, but it entered a serious decline and consolidation process after the halving. The largest cryptocurrency also fell to $50,000 in situations such as Israel-Iran tensions, Trump assassination attempt and the surprise interest rate hike of the Bank of Japan.