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Date:
24th Dec 2020
Author:
CryptoAltum Research Team

CryptoQuant CEO: Bitcoin Will Break $25k without Retesting $21k


Just when some analysts are calling tops, the CEO of CryptoQuant--an on-chain analytics firm, Ki-Young Ju now says the Bitcoin price will spring to $25k without slowing down and retesting $21k. As of writing, the BTC/USD price is stable, soaking sell pressure, and resisting attempts by bears to force back prices to $20k, or 2017 peaks in a retest. Several analysts project the BTC price to reach $100k by this time next year.


Details: 

The CEO of MicroStrategy, Michael Saylor, is adamant people need an investment strategy in the face of unprecedented monetary expansion and low-interest rates. Grayscale that despite suspending the investment of GBTC trust, saw them buy more BTC on behalf of their clients. On the other hand, Ruffer Investment allocated roughly three percent of their $25 billion portfolios. They are lowering their exposure to gold and increasing BTC purchases. Also, funds from XRP will likely flow to Bitcoin and Ethereum—two assets with support from the United States SEC. These, combined with bullish retail investors, could push BTC prices to a new all-time high above $25k, even to $30k in the medium term.


Impact on the BTC Price: 

Bullish. Kim is joining a long list of analysts and influencers forecasting the BTC/USD pair to rally to new highs above $24k.


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