The leading cryptocurrency, Bitcoin, has been experiencing volatile movements in recent days. With its price fluctuating between $81,000 and $84,000, reports suggest the bear market for BTC is over.
The CEO of CryptoQuant stated that the bear market cycle in Bitcoin has ended and shared his expectation of either upward or sideways movement in the next 12 to 24 months.
Ki Young Ju, CEO of the cryptocurrency analysis platform CryptoQuant, stated today on his X account that Bitcoin’s bear market cycle has ended. Ju indicated that he expects Bitcoin’s price to either rise or remain relatively stable within the next 12 to 24 months.
“The Bitcoin bear cycle has ended, and price movement, either upward or sideways, is expected for the next 12-24 months.”
Ju’s assessment suggests that, rather than expecting a continued downturn in Bitcoin, the market may enter an uptrend or consolidation phase in the coming period.
Is a New Era Beginning for Bitcoin?
This post has brought the medium and long-term price expectations for Bitcoin back into the spotlight. Ju’s statement stands out as a noteworthy assessment in terms of expectations regarding the current market cycle.
However, the CryptoQuant CEO did not set a specific price target for Bitcoin in his post. Therefore, the assessment is not a guarantee that Bitcoin will definitely rise, but rather a prediction of the possible direction of the market.
At this point, Ju’s prediction doesn’t mean the price will rise uninterrupted. Price fluctuations are possible due to geopolitical developments, uncertainties, and macroeconomic data affecting the cryptocurrency market and prices.
*This is not investment advice.
