CryptoQuant CEO Ki Young Ju said in a recent social media post that he expects Bitcoin to gain 3x to 5x in the current bull cycle, rather than repeating a parabolic surge of more than 10x. He also said the downturn that follows should be milder than in past cycles. Ju pointed to the Market Value to Realized Value ratio, or MVRV, saying it has not fallen below 1 at any point in this cycle. Even at local lows, BTC stayed above the average on-chain cost basis of holders. In his view, some investors did take losses, but holders as a whole never fell into an overall loss position during this cycle. The comments were reported by BlockBeats on Oct. 3.
CryptoQuant CEO Ki Young Ju said in a recent social media post that he expects Bitcoin to return 3x to 5x in the current bull market cycle, instead of posting another parabolic rally of more than 10x.
He added that the bear market that follows should be relatively mild.
Ju also said the Market Value to Realized Value ratio, or MVRV, has never dropped below 1 in this cycle. Even at the lows, BTC remained above the average on-chain cost basis of holders.
According to Ju, some investors suffered losses, but holders overall never moved into a loss position.
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