Ki Young Ju noted that the news about the accumulation of the first cryptocurrency ceased to shock traders and investors and became a factor of everyday life.
“The bullish trend is not over yet. The bubble phase will occur when the price of Bitcoin significantly exceeds the influx of capital, that is, all participants stop buying the asset.”
Now the daily influx of capital into the crypto market is approximately $7 billion. A correction of the first cryptocurrency is still likely, but in the current situation, the implementation of the scenario is no more than 30%, the expert noted.
According to him, most likely in the near future the crypto market will grow by more than 30% – after a short-term decline. Large investors, the whales, dominate, preventing retail investors from entering the game. The peak of the Bitcoin rate is still very far away, the analyst believes.
Earlier, Ki Young Ju said that Bitcoin was able to exceed the $100,000 mark only due to the fact that fresh capital from institutional investors came to the crypto market.
Source: Bits
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