CryptoQuant CEO: BTC Could Reach New ATH Within a Year If It Holds Above $45K
CryptoNewsTerminal Staff06 Aug, 2024
CryptoQuant CEO: BTC Could Reach New ATH Within a Year If It Holds Above $45K
CryptoQuant CEO Ki Young Ju recently shared his insights on Bitcoin's (BTC) price action. He believes that BTC has the potential to set a new all-time high (ATH) within a year if it can hold above the $45,000 level. According to Young Ju, some indicators are currently showing bearish signals. However, he believes that if BTC can maintain its current level for 1-2 weeks, it could trigger a price bounce. On the other hand, if the bearish signals persist for an extended period, the risk of a bear market could increase. Young Ju's comments come at a time when BTC has been consolidating around the $45,000 level. The cryptocurrency has faced resistance at this level in recent weeks, but it has also managed to bounce back from dips. Whether or not BTC can break above the $45,000 level and reach a new ATH remains to be seen. However, Young Ju's analysis provides some valuable insights into the potential direction of the market.
