Bitcoin’s recent rally, driven by investor enthusiasm following Trump’s election win, has pushed it to a new all-time high of over $77,000.
However, Ki Young Ju, CEO of CryptoQuant, predicts a more cautious 2024 close at around $58,974—an estimated 24% dip from recent highs.
He’s running a prediction challenge for CryptoQuant users, with some optimistic followers forecasting six-figure prices.
Last week’s rate cut anticipation and election results spurred Bitcoin’s gains, catching short-sellers off guard, leading to liquidations totaling nearly $750 million across crypto markets.
Meanwhile, analyst Ali Martinez suggests a possible Bitcoin correction toward $73,900, presenting an opportunity to buy. He also shared a bullish view on select altcoins, with price targets set for Notcoin and Dogwifhat, and remains positive on Ethereum’s potential for further growth.
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.
Bitcoin has dropped sharply to test its local range low near $115,000, with analysts pointing to renewed whale activity and long-dormant supply movements as key contributors to the decline.
Bitcoin has reached a critical milestone in its programmed supply timeline—only 5.25% of the total BTC that will ever exist remains to be mined.
Strategy the company formerly known as MicroStrategy, has announced the pricing of a new $2.47 billion capital raise through its initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).