CryptoQuant CEO Predicts Significant Bitcoin Price Drop Before the End of 2024

Bitcoin’s recent rally, driven by investor enthusiasm following Trump’s election win, has pushed it to a new all-time high of over $77,000.

However, Ki Young Ju, CEO of CryptoQuant, predicts a more cautious 2024 close at around $58,974—an estimated 24% dip from recent highs.

He’s running a prediction challenge for CryptoQuant users, with some optimistic followers forecasting six-figure prices.

Last week’s rate cut anticipation and election results spurred Bitcoin’s gains, catching short-sellers off guard, leading to liquidations totaling nearly $750 million across crypto markets.

Meanwhile, analyst Ali Martinez suggests a possible Bitcoin correction toward $73,900, presenting an opportunity to buy. He also shared a bullish view on select altcoins, with price targets set for Notcoin and Dogwifhat, and remains positive on Ethereum’s potential for further growth.