CryptoQuant CEO Sees Calmer Cycle Ahead for Bitcoin
CryptoQuant CEO Ki Young Ju predicts a calmer cycle for Bitcoin's current bull run. He expects gains of 3 to 5 times, not another 10x parabolic rally.
Ju attributes this change in expectations to the growing institutional ownership and larger market size. Retail hot money, which powered past cycles, is no longer driving prices.
The Market Value to Realized Value (MVRV) ratio has never fallen below 1 this cycle, indicating that holders have not gone underwater. The PnL Index's 365-day moving average is also forming an inflection point, suggesting a shift in market dynamics.