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CryptoQuant CEO: If Bitcoin reaches an ATH before Q4, the cycle theory will be completely abandoned.
BlockBeats news, on April 23, CryptoQuant CEO Ki Young Ju posted on social media: "After I announced the end of the bull run cycle, Bitcoin once fell by 10%, but now the price is 10% higher than when I made my judgment. I still believe we are in a wide-ranging oscillation zone. If we break through the $100,000 mark, I will gladly admit my mistake. Until then, I will continue to observe several weeks of data to confirm whether this is a true trend reversal. My analysis focuses on the long-term supply and demand relationship based on on-chain data. However, in this market that reacts to every word from Trump, short-term price movement is more event-driven, making traditional cyclical on-chain indicators difficult to work. Of course, even among on-chain analysts, interpretations of the data can vary greatly. If Bitcoin reaches a new all-time high before the fourth quarter, I will completely abandon the cyclical theory. A market without clear cycles may be drastically different from our past understanding. At that time, the dead bulls will be right — perpetual rise."