Joo Ki-Young: 'The Cryptocurrency Market is Optimistic, But Not Overly Optimistic'
CryptoNewsTerminal Staff12 Jun, 2024
Joo Ki-Young: 'The Cryptocurrency Market is Optimistic, But Not Overly Optimistic'
Joo Ki-Young, CEO of CryptoQuant, reposted an analysis by CryptoQuant analyst AxelAdlerJr, suggesting that "the cryptocurrency market is optimistic, but not overly optimistic." AxelAdlerJr analyzed the realized market cap growth rate compared to the 1-year average BTC market cap growth rate. When the realized market cap growth rate is positive, it signifies investor optimism as the market cap increases faster than the realized market cap. Exceeding the threshold of 0.002 indicates an overheated market ripe for a price correction, but the current value remains at 0.001, suggesting a healthy level of optimism.