Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Crypto Analyst Predicts 40% BTC Rally Before Sell-Off

Crypto Analyst Predicts 40% BTC Rally Before Sell-Off

CoinEditionCoinEdition2024/11/05 16:00
By:Ikemefula Aruogu

Cryptoquant CEO says investors should consider selling Bitcoin. Ki Young Ju analyzed Bitcoin’s repetitive cycle. New investors sell BTC when the pain of the bear market eases.

  • Cryptoquant CEO says investors should consider selling Bitcoin.
  • Ki Young Ju analyzed Bitcoin’s repetitive cycle.
  • New investors sell BTC when the pain of the bear market eases.

CryptoQuant CEO Ki Young Ju suggests that investors should consider gradual selling of Bitcoin at its current levels rather than going full throttle in acquiring the cryptocurrency. In a post on X, Ju highlighted a recurring pattern in Bitcoin’s market cycle, showing how the digital asset often shifts hands from new investors to seasoned ones during specific periods.

Crypto Analyst Predicts 40% BTC Rally Before Sell-Off image 0 Source: Twitter

Ju explained that new investors tend to hold BTC through bear markets, incurring losses, before eventually selling off their holdings when market pressures ease. According to Ju, Bitcoin’s current state represents one such “pain-easing” phase, where recent entrants are likely selling to lock in profits. Despite predicting a potential rally of up to 40%, Ju emphasized that this would be much smaller than the 368% surge seen after Bitcoin dropped to $16,000 during previous cycles.

Bitcoin Peaks and Cycles Analysis

Ju shared a chart illustrating Bitcoin’s past peaks and troughs, marking key moments of maximum and minimal investor pain. His analysis reveals that Bitcoin typically hits its “maximum pain” phase between the 12th and 18th month of each bull run, with the “no pain” phase following between 18 months and two years into the cycle. Based on this pattern, Ju suggests Bitcoin has entered the “no pain” region, where new investors from previous cycles are likely selling.

Given this trend, Ju advises caution, highlighting the potential for a relatively lower rally compared to past bull runs.

Read also: Bitcoin’s Path to $100,000: Predictions, Election Impact, and Halving Effects

Bitcoin reached a new all-time high of $75,397 early Wednesday, following the confirmation of Donald Trump’s victory in the 2024 U.S. presidential election. At the time of writing, Bitcoin was trading at $73,912, according to TradingView.

The market’s positive sentiment was not restricted to Bitcoin alone. Other top cryptocurrencies, including Ethereum and Solana, also experienced significant gains. Ethereum climbed more than 10% in the past 24 hours, trading at $2,592, while Solana surged by 20% to reach $185.

Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

1MCHEEMSUSDT now launched for futures trading and trading bots

Bitget has launched 1MCHEEMSUSDT for futures trading with a maximum leverage of 20, along with support for futures trading bots, on November 25, 2024 (UTC+8). Welcome to try futures trading via our official website (www.bitget.com) or Bitget APP. 1MCHEEMSUSDT-M perpetual futures: Parameters Details

Bitget Announcement2024/11/25 09:01

Token listing: Instantly buy/sell BTC with EUR & BRL via cash conversion!

Bitget users can now instantly buy or sell BTC with EUR or BRL balances via cash conversion! Buy/Sell Crypto Tips: Enjoy a transaction fee rebate in USDT on your first cash conversion transaction! Additional perks >>> Flash Monday: Buy crypto with a credit/debit card for zero fees >>> Flash Thursda

Bitget Announcement2024/11/25 08:12