Bitcoin Could Hit $135K, But Caution Urged Amid Rising Leverage and Retail FOMO

Bitcoin's rapid rise in value has led to a surge in price predictions for late 2024 and beyond, with the latest forecast from CryptoQuant's CEO, Ki Young Ju.

He now believes Bitcoin’s price could reach as high as $135,000.

Ju revised his outlook, acknowledging the current bull market and predicting further price increases. He emphasized that while he previously expected a short-term correction, he now sees Bitcoin on a sustained upward trajectory, with $135,000 as the potential upper limit based on the capital flowing into the market.

However, Ju cautioned investors, reminding them that corrections are still possible. He noted the leveraged nature of the futures market, which can increase volatility, and advised caution with leveraged positions. With the BTC-USDT perpetual futures market now about 2.7 times more leveraged than at the start of 2024, he warned that any liquidation of long positions could lead to downward pressure on prices.

READ MORE:

Will Cardano Face Another Drop Before Year-End?

Despite this, Ju highlighted the growing participation of retail investors in Bitcoin, while large institutional players remain cautious. He speculated that when Bitcoin hits $100,000, there will be a rush of retail buying, driving further demand. While corrections might happen along the way, he believes this rally is just beginning and doesn’t foresee the start of a bear market.

Retail investors are coming: #Bitcoin transaction volume under $100K hit a 3-year high. pic.twitter.com/S0pG6eErlY

— Ki Young Ju (@ki_young_ju) November 18, 2024

Alexander Zdravkov