Crypto NewsAnalysisRecord Prediction for Bitcoin from CryptoQuant CEO!

Record Prediction for Bitcoin from CryptoQuant CEO!

CryptoQuant CEO Ki Joung Ju claimed that Bitcoin could reach $112,000 this year.

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While Bitcoin, the leading cryptocurrency, approached $ 49,000 with the rise it experienced last week, this rise stopped in the new week.

While BTC is currently at $48,000, investors are focused on economic data from the USA this week.

While wondering whether the rise in Bitcoin will continue with this data, a positive evaluation came from Ki Joung Ju, CEO of the popular on-chain data provider CryptoQuant.

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At this point, the famous CEO said that if the current trend of flows into spot Bitcoin ETFs continues, the Bitcoin price could reach $112,000 this year.

In his post on his account, Kş Young Ju

“If the current trend in Bitcoin ETF inflows continues, the BTC price could reach $112,000 this year, or $55,000 in the worst case.”

Even the worst-case target of $55,000 represents around a 15% upside for Bitcoin.

CryptoQuant's CEO appeared to set his $55,000 and $112,000 targets based on the impact of ETF inflows on Bitcoin's market cap, a metric that historically indicates whether prices are “overvalued” or “undervalued.”

The famous CEO also noted that historically the bottoms in Bitcoin have been 0.75; Pointing out that the peaks occurred at a rate of 3.9 MVRV, “With the current spot ETF entry trends, the highest price can reach 104 thousand to 112 thousand dollars.” said.

*This is not investment advice.

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