CryptoQuant CEO: Due to the "overheating" of the futures market, the year-end price of Bitcoin may fall below 59,000 US dollars
CryptoQuant CEO Ki Young Ju believes that the price of Bitcoin may be slightly lower than $59,000 by the end of the year, pointing out that an overheated futures market is one of the main reasons for a sharp drop at year-end. Ki recently posted on X stating that he expects Bitcoin's year-end price to fall to $58,974 and asked others for their views on the year-end price. He added that he would pay 0.1 BTC to whoever comes closest.
He said: "I expect overheating in the bitcoin futures market will lead to adjustments, but we are entering a phase of price discovery and markets are heating up further. If there is a pullback and consolidation, it could prolong the bull market; however, in my view, a crash at year-end might set us up for a bear market in 2025 - I hope my prediction is wrong."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trending news
MoreEton Pharmaceuticals, Inc. announced that, in addition to the acquisition of core assets, the company also plans to purchase approximately $1.5 million worth of inventory products at the time of transaction closing.
Eton Pharmaceuticals, Inc. has signed a licensing agreement to successfully acquire the exclusive U.S. marketing rights for Hemangeol oral solution from Pierre Fabre Medicament Sas.
Crypto prices
More
