Donald Trump’s return to the U.S. presidency has sparked a notable surge in Bitcoin and other cryptocurrencies, with many predicting further growth.
Bitcoin is now eyeing new price targets, with $80,000 and $100,000 in sight by the year’s end. However, not everyone shares the same optimism.
Ki Young Ju, the CEO of CryptoQuant, offers a cautious perspective. He believes that while Bitcoin’s price could see an uptick, investors should start considering selling their holdings gradually.
New investors often hold $BTC through bear markets, enduring losses.
After about two years, it changes hands when pain eases. That time is now.
It could go up +30-40% from here, but not like the +368% we saw from $16K. Time to consider gradual selling, not all-in buying, imo. pic.twitter.com/hXRT6YBsxS
— Ki Young Ju (@ki_young_ju) November 6, 2024
Ju highlights that newer investors, who bought in during bear markets, may now feel less pressure as their losses shrink. He warns that while a 30-40% price jump is possible from current levels, it won’t compare to the massive 368% rally seen when Bitcoin climbed from $16,000.
In his analysis, Ju advises that it might be time to sell in increments rather than committing to a full purchase, suggesting that holding for too long might expose investors to unnecessary risks as the market continues to stabilize.
Veteran Bloomberg Intelligence strategist Mike McGlone has reiterated his bearish stance on Bitcoin, adding Dogecoin (DOGE) to the list of assets showing signs of weakness.
Bitcoin’s recent dip below $100,000 might feel discouraging, especially after soaring to $109,000 earlier this year.
Bitcoin’s ownership landscape has shifted, with two institutions—BlackRock and MicroStrategy—now jointly holding more BTC than Bitcoin’s mysterious creator, Satoshi Nakamoto.
Bitcoin (BTC) managed to surge past the price mark of $89,000, as investors flock to the cryptocurrency amidst traditional market turbulence and increasing political uncertainties.