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.
READ MORE:
Republicans Could Boost Crypto Market to $10 Trillion by 2026 – Standard CharteredMeanwhile, 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.
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
MARA's stock jumps after raising $1 billion via convertible notes to buy more bitcoin
MARA Holdings announced the successful closing of its $1 billion offering of 0% convertible senior notes due 2030.The bitcoin miner plans to allocate around $199 million of the proceeds to repurchase $212 million in principal of its existing convertible notes due 2026. The remaining funds will be used to acquire more bitcoin.
Gold loses luster as institutional demand fuels bitcoin price surge, analysts say
Bitcoin’s 46% surge over the past month, contrasted with gold’s 3% decline, highlights a shifting investor preference toward alternative store-of-value assets, analysts say.Derivatives traders are buying up bitcoin call options ahead of Trump’s inauguration, signaling strong bullish sentiment for the beginning of 2024.
SEC is 'engaging' Solana ETF applicants: report
SEC “engaging” on Solana ETF applications, sparking optimism for potential approval in 2025.VanEck, 21Shares, and Bitwise lead Solana ETF filings amid pro-crypto White House hopes.SOL token rises 4.6% to $247.91, bolstered by Solana’s strong DeFi ecosystem and demand.
Shiba Inu Developer Says SHIB Is No Longer a Memcoin