As is the trending topic of discussion between analysts and experts in recent weeks, Bitcoin has not seen the massive rise everyone was expecting. This has led to insignificant price rises of the top cryptocurrency and instead has even seen its value drop to the $8,000’s. At the time of writing, BTC is valued at $9,500 and has been fluctuating in that range for the past few months with no real change as was previously forecasted. But there seems to be a certain detail most had missed out on except Crypto Quant CEO Ki Young Ju. He has estimated that BTC is bound for another bullish rise as early as July. This might be a little speculative seeing as we are in the last few days of June with no significant signs so far.
The basic idea comes from historical data suggesting that Bitcoin rises when Bitcoin whales move their assets from exchanges with the Bitcoin price action happening simultaneously. For everyone else who can see large whales moving their bitcoins from exchanges, it just means that there is a strong buy signal which directly leads to the price shooting up. Currently, Bitcoin is not changing in price which is not good news for day traders but we can confirm that there has been definite action going on in the background with Bitcoin whales accumulating their coins into non-custodial wallets from exchanges.
Two previous markets were referenced as the data leading to his statement of 2017 & 2019 showed the exact forecasted result after a similar action by Bitcoin Whales.
Although if the conditions are to hold true for his claim, then we should be seeing a Bitcoin rise as soon as mid-July. Referring to Ki Young Ju again, his latest tweets have all predicted a Bitcoin uprising but whether it will actually come true is something we will just have to wait and see.
As for the rest of the Crypto public on twitter, there are a few who are optimistic about seeing the price go up as well. Some have stated that if BTC manages to hold the required support, they may see it cross the $9,600 barrier very soon. What do you think on this? Will it go up? Will the prediction made by the CEO of Crypto Quant come true? Will we see Bitcoin cross $10k? Share your opinions with us in the comments below or reach out to us on our social profiles to let us know what you think.
