Bitcoin

While Bitcoin, the leading cryptocurrency, approached $ 49,000 with the rise it experienced last week, this rise stopped in the new week. 
While BTC is currently at $48,000, investors are focused on economic data from the USA this week. 
While wondering whether the rise in Bitcoin will continue with this data, a positive evaluation came from Ki Joung Ju, CEO of the popular on-chain data provider CryptoQuant. 
Related News: <a href="https://en.bitcoinsistemi.com/a-new-record-prediction-came-from-the-analyst-who-previously-knew-the-decline-in-bitcoin/" target="_blank" rel="dofollow">A New Record Prediction Came from the Analyst Who Previously Knew the Decline in Bitcoin!</a> 
At this point, the famous CEO said that if the current trend of flows into spot Bitcoin ETFs continues, the Bitcoin price could reach $112,000 this year. 
In his post on his account, Kş Young Ju 
<blockquote> 
 “If the current trend in Bitcoin ETF inflows continues, the BTC price could reach $112,000 this year, or $55,000 in the worst case.” 
</blockquote> 
Even the worst-case target of $55,000 represents around a 15% upside for Bitcoin. 
CryptoQuant's CEO appeared to set his $55,000 and $112,000 targets based on the impact of ETF inflows on Bitcoin's market cap, a metric that historically indicates whether prices are “overvalued” or “undervalued.” 
The famous CEO also noted that historically the bottoms in Bitcoin have been 0.75; Pointing out that the peaks occurred at a rate of 3.9 MVRV, “With the current spot ETF entry trends, the highest price can reach 104 thousand to 112 thousand dollars.” said. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> could reach $112K this year driven by ETF inflows, worst-case $55K.<a href="https://t.co/HrkV3TU8Ul">https://t.co/HrkV3TU8Ul</a> <a href="https://t.co/jBn6HWpt9b">pic.twitter.com/jBn6HWpt9b</a> 
 — Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1756498625205502301?ref_src=twsrc%5Etfw">February 11, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/record-prediction-for-bitcoin-from-cryptoquant-ceo/">Record Prediction for Bitcoin from CryptoQuant CEO!</a>

Record Prediction for Bitcoin from CryptoQuant CEO!

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