CryptoQuant CEO Ki Yong Ju believes that despite several significant corrections, Bitcoin remains in a bull market.
Currently, Bitcoin is trading around $62,850, having recently peaked at $63,694. Ju characterizes the current price action as “boring,” suggesting it presents an excellent opportunity for investors to accumulate Bitcoin. He notes that market activity is very low, based on Garman-Klass realized volatility indicators.
Travis Kling of Ikigai Asset Management mentioned that the recent correction was understandable due to concerns about oversupply. Meanwhile, some analysts believe Bitcoin has not yet reached its peak.
Tom Lee of Fundstrat still forecasts Bitcoin could reach $150,000. Similarly, commodities trader Peter Brandt also predicts Bitcoin could peak at $150,000 during this market cycle. However, Brandt acknowledges there’s still a possibility Bitcoin may not reach a new high and could decline to around $55,000.
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Historical trends suggest Bitcoin may recover in July