While price predictions for Bitcoin (BTC), which has seen a huge rise in a short time, continue to come for the end of 2024 and 2025, the latest prediction came from CryptoQuant CEO Ki Young Ju.
The Ceiling Price for Bitcoin is $135,000!
Revising his predictions, Ki Young Ju said that we are in the bull season and the BTC price will rise further.
Ju, who also set a ceiling price for Bitcoin, stated that this price is currently $135,000.
“We are in a bull market. Bitcoin will continue to rise.
Sorry for my wrong prediction about the short term correction. I was not implying a bear market, I was just predicting a correction.
Based on the cumulative capital flowing into the Bitcoin market, the current upper limit appears to be $135,000.”
Noting that this is just a prediction and may change depending on market conditions, Ju also warned investors against possible corrections: “Please be careful and remember. This does not mean that there will be no corrections. As I mentioned before, the futures perp market is extremely leveraged. Stay bullish in the long term, but be careful with leverage if you are an investor.”
Noting that at this point, the BTC-USDT perpetual futures market is about 2.7 times more leveraged than it was at the beginning of 2024, Ju said that the liquidation of leveraged long positions creates downward pressure on the Bitcoin price and the liquidations could cause the price to decline further.
Retail Investors Are Coming to Bitcoin!
Stating that small investors came to Bitcoin, the famous CEO stated that giant whales are still waiting.
Ju, who expects a huge FOMO at $100,000, said that some corrections may be seen in BTC, but everything is just beginning:
“Here is Bitcoin transaction volume over $1 million.
If I were a mega whale, I would expect more exit liquidity. Imagine retail investors in FOMO just entering the market when Bitcoin hits $100k. It’s just getting started.
We may see some correction, but I don’t think this will be the start of a bear market.”
Here’s #Bitcoin transaction volume over $1M.
If I were a giga whale, I’d wait for more exit liquidity. It’s just starting. Imagine retail in FOMO joining at $100K.
We might see some corrections, but it wouldn’t mark the start of a bear market, imo. pic.twitter.com/1iAvxJiFjl
— Ki Young Ju (@ki_young_ju) November 18, 2024
*This is not investment advice.