{"id":607180,"date":"2024-05-09T18:00:15","date_gmt":"2024-05-09T18:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=607180"},"modified":"2024-06-11T06:59:58","modified_gmt":"2024-06-11T06:59:58","slug":"bitcoin-price-headed-265000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-headed-265000\/","title":{"rendered":"CryptoQuant CEO Predicts Where Bitcoin Price Is Headed, Is $265,000 Too Ambitious?"},"content":{"rendered":"

Ki Young Ju<\/span><\/a>, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin. The crypto founder alluded to certain factors that could spark the <\/span>flagship crypto\u2019s rise<\/span><\/a> to such heights.\u00a0<\/span><\/p>\n

Bitcoin Could Rise To As High As $265,000<\/h2>\n

Young Ju mentioned in an X (formerly Twitter) <\/span>post<\/span><\/a> that \u201c<\/span>Bitcoin\u2019s network fundamentals<\/span><\/a> could support a market cap three times its current size compared to the last cyclical top.\u201d He added that this development could help BTC rise to $265,000. The fundamental that the crypto founder was alluding to was the Hashrate\/Market Cap ratio.<\/span><\/p>\n

Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu \u2013 Here\u2019s The Target<\/a><\/div>\n

 <\/p>\n

\"Bitcoin\"<\/p>\n

Source: CryptoQuant<\/pre>\n
The accompanying chart that Young Ju shared showed that <\/span>Bitcoin\u2019s hash rate<\/span><\/a> is currently more than three times what it was at the last market cycle top. Meanwhile, BTC is still at the price level it was during that period. As such, the CryptoQuant CEO believes that Bitcoin could also see a 3x increase in its price, just like the Hash rate.\u00a0<\/span><\/p>\n
Young Ju\u2019s prediction provides a much-needed bullish outlook for Bitcoin, especially given the flagship crypto\u2019s recent decline and <\/span>talk<\/span><\/a> that Bitcoin may have already attained the market top for this cycle. Tom Lee, co-founder of research firm Fundstrat, also recently shared his bullish sentiment towards BTC, <\/span>stating<\/span><\/a> that the crypto token will still reach $150,000 this year.\u00a0<\/span><\/p>\n
Meanwhile, similarly to Young Ju\u2019s prediction, crypto analyst MacronautBTC had <\/span>previously stated<\/span><\/a> that Bitcoin could rise to $237,000. The crypto analyst made this \u201cconservative\u201d calculation based on BTC’s demand outpacing its supply in the long run, especially with the <\/span>halving<\/span><\/a> further reducing Miners\u2019 supply.\u00a0<\/span><\/p>\n
A Rise To $265,000 Not Ambitious<\/h2>\n
Young Ju\u2019s prediction of $265,000 for Bitcoin is far from ambitious when considering that Samson Mow, the CEO of JAN3, <\/span>predicted<\/span><\/a> that Bitcoin could rise to as high as $1 million this year. He explained that this unprecedented rise was possible due to the impressive demand that Bitcoin was currently enjoying.\u00a0<\/span><\/p>\n
Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing<\/a><\/div>\n
Pseudonymous crypto analyst PlanB<\/span><\/a> also echoed a similar sentiment, stating that BTC hitting $1 million is possible, although he suggested that could happen in 2025 rather than this year. He made this prediction based on the Bitcoin stock-to-flow (STF) indicator, which hints at $500,000 being the average price level for Bitcoin in this market cycle.\u00a0<\/span><\/p>\n
As such, the analyst believes that $1 million could be the market top for this bull run. Meanwhile, PlanB mentioned that Bitcoin hitting $100,000 this year was \u201cinevitable.\u201d<\/span><\/p>\n
At the time of writing, Bitcoin is trading at around $61,700, down over 1% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.\u00a0<\/span><\/p>\n
\"Bitcoin<\/p>\n
BTC makes its way to $61,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from CryptoRank, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Ki Young Ju, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin. The crypto founder alluded to certain factors that could spark the flagship crypto\u2019s rise to such heights.\u00a0 Bitcoin Could Rise To As High As $265,000 Young Ju mentioned in an X (formerly Twitter) post that \u201cBitcoin\u2019s network fundamentals could support a market cap three times its current size compared to the last cyclical top.\u201d He added that this development could help BTC rise to $265,000. The fundamental that the crypto founder was alluding to was the Hashrate\/Market Cap ratio. Related Reading: Crypto Analyst Predicts 350% Surge For Shiba Inu \u2013 Here\u2019s The Target   Source: CryptoQuant The accompanying chart that Young Ju shared showed that Bitcoin\u2019s hash rate is currently more than three times what it was at the last market cycle top. Meanwhile, BTC is still at the price level it was during that period. As such, the CryptoQuant CEO believes that Bitcoin could also see a 3x increase in its price, just like the Hash rate.\u00a0 Young Ju\u2019s prediction provides a much-needed bullish outlook for Bitcoin, especially given the flagship crypto\u2019s recent decline and talk that Bitcoin may have already attained the market top for this cycle. Tom Lee, co-founder of research firm Fundstrat, also recently shared his bullish sentiment towards BTC, stating that the crypto token will still reach $150,000 this year.\u00a0 Meanwhile, similarly to Young Ju\u2019s prediction, crypto analyst MacronautBTC had previously stated that Bitcoin could rise to $237,000. The crypto analyst made this \u201cconservative\u201d calculation based on BTC’s demand outpacing its supply in the long run, especially with the halving further reducing Miners\u2019 supply.\u00a0 A Rise To $265,000 Not Ambitious Young Ju\u2019s prediction of $265,000 for Bitcoin is far from ambitious when considering that Samson Mow, the CEO of JAN3, predicted that Bitcoin could rise to as high as $1 million this year. He explained that this unprecedented rise was possible due to the impressive demand that Bitcoin was currently enjoying.\u00a0 Related Reading: Can Ethereum Reclaim $4,000? Fragile Fundamentals Threaten To Send ETH Crashing Pseudonymous crypto analyst PlanB also echoed a similar sentiment, stating that BTC hitting $1 million is possible, although he suggested that could happen in 2025 rather than this year. He made this prediction based on the Bitcoin stock-to-flow (STF) indicator, which hints at $500,000 being the average price level for Bitcoin in this market cycle.\u00a0 As such, the analyst believes that $1 million could be the market top for this bull run. Meanwhile, PlanB mentioned that Bitcoin hitting $100,000 this year was \u201cinevitable.\u201d At the time of writing, Bitcoin is trading at around $61,700, down over 1% in the last 24 hours, according to data from CoinMarketCap.\u00a0 BTC makes its way to $61,000 | Source: BTCUSD on Tradingview.com Featured image from CryptoRank, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":607198,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790,6664,90232,14690,83531,92146,91847],"class_list":["post-607180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-expert","tag-crypto-news","tag-cryptoquant","tag-cryptoquant-ceo","tag-expert"],"acf":[],"yoast_head":"\nCryptoQuant CEO Predicts Where Bitcoin Price Is Headed, Is $265,000 Too Ambitious?<\/title>\n<meta name=\"description\" content=\"Ki Young Ju, CEO of cryptocurrency analysis firm CryptoQuant, has given an ultra-bullish prediction for Bitcoin.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"CryptoQuant CEO Predicts Where Bitcoin Price Is Headed, Is $265,000 Too Ambitious?","url":"http:\/\/wncen.com\/news\/bitcoin-price-headed-265000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-headed-265000\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-2.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-2.jpeg?fit=1600%2C914"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt","crypto","crypto expert","crypto news","cryptoquant","cryptoquant ceo","expert"],"dateCreated":"2024-05-09T18:00:15Z","datePublished":"2024-05-09T18:00:15Z","dateModified":"2024-06-11T06:59:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"CryptoQuant CEO Predicts Where Bitcoin Price Is Headed, Is $265,000 Too Ambitious?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-headed-265000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-headed-265000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-2.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-2.jpeg?fit=1600%2C914\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\",\"crypto\",\"crypto expert\",\"crypto news\",\"cryptoquant\",\"cryptoquant ceo\",\"expert\"],\"dateCreated\":\"2024-05-09T18:00:15Z\",\"datePublished\":\"2024-05-09T18:00:15Z\",\"dateModified\":\"2024-06-11T06:59:58Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-2.jpeg?fit=1600%2C914","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607180"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=607180"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607180\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/607198"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607180"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607180"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607180"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}