Bitcoin CEO Sees Six-Figure Return Despite Correction

The CEO of CryptoQuant, a leading crypto analytics firm, has expressed his bullish stance on Bitcoin (BTC), asserting that the current bull market is far from over. Ki Young Ju, the firm's CEO, believes that severe corrections are a normal part of bull cycles and expects Bitcoin to return to six figures soon.

However, Ju warns that if Bitcoin drops significantly below $75,000, it could mark the end of the current bull market cycle. He maintains his bullish stance, stating that he has consistently believed in the possibility of a 30% correction during the bull cycle.

Ju also believes that Bitcoin may remain in a consolidation phase for an extended period, similar to the pattern seen in early 2024. He suggests that this could last until some positive news for Bitcoin brings in new liquidity, potentially pushing the price above the range high of about $100,000.

At the time of writing, Bitcoin is trading at $84,247, down 22.1% from its all-time high of $108,786, which it reached on January 20th. Despite the recent correction, Ju remains optimistic about Bitcoin's long-term prospects.