Bitcoin Could Hit $135K, But Caution Urged Amid Rising Leverage and Retail FOMO
Bitcoin's rapid rise in value has led to a surge in price predictions for late 2024 and beyond, with the latest forecast from CryptoQuant's CEO, Ki Young Ju.
He now believes Bitcoin’s price could reach as high as $135,000.
Ju revised his outlook, acknowledging the current bull market and predicting further price increases. He emphasized that while he previously expected a short-term correction, he now sees Bitcoin on a sustained upward trajectory, with $135,000 as the potential upper limit based on the capital flowing into the market.
However, Ju cautioned investors, reminding them that corrections are still possible. He noted the leveraged nature of the futures market, which can increase volatility, and advised caution with leveraged positions. With the BTC-USDT perpetual futures market now about 2.7 times more leveraged than at the start of 2024, he warned that any liquidation of long positions could lead to downward pressure on prices.
READ MORE:
Will Cardano Face Another Drop Before Year-End?Despite this, Ju highlighted the growing participation of retail investors in Bitcoin, while large institutional players remain cautious. He speculated that when Bitcoin hits $100,000, there will be a rush of retail buying, driving further demand. While corrections might happen along the way, he believes this rally is just beginning and doesn’t foresee the start of a bear market.
Retail investors are coming: #Bitcoin transaction volume under $100K hit a 3-year high. pic.twitter.com/S0pG6eErlY
— Ki Young Ju (@ki_young_ju) November 18, 2024
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.
You may also like
Ex-Goldman Sachs Exec Shares Positive Outlook on XRP Amid Legal Challenges
Cardano Hits $1 for the First Time in Two Years, Signaling Strong Market Momentum
XRP Soars as Ripple CEO Applauds Trump’s Treasury Secretary Nominee
Trump and Wall Street: How long will the love affair last?
Share link:In this post: Wall Street loved Trump’s win at first—stocks jumped, Bitcoin soared, and borrowing costs hit rock bottom, but some sectors started cracking fast. Tax cuts and deregulation made financial and energy stocks shoot up, but tariffs and plans to deport workers freaked out economists and markets. Tariffs mean higher prices for Americans, and even Walmart’s warning it’ll have to raise prices if Trump pushes through with his trade war.