Bitcoin Bull Cycle Could Deliver 3–5x as CryptoQuant CEO Sees Market Maturing

CryptoQuant founder Ki Young Ju has said that this Bitcoin bull market will result in a 3x to 5x increase, as the overall market size is larger than before, along with institutional holdings growing in Bitcoin.

Ju’s projection does not contain a price target for Bitcoin, and it is unclear when the 3-5x figure starts. However, Ju seems to be discussing the potential magnitude of the next cycle rather than a 3-5x increase from Bitcoin’s current price, which is around $86,400.

The thesis started to change. Previous Bitcoin cycles started from such small valuations that relatively little money could make a very large difference in price. Bitcoin’s market capitalization is now around $1.75 trillion and so would require a lot more capital.

I expect this Bitcoin bull cycle to deliver 3–5x rather than another 10x+ parabolic rally, followed by a milder bear market.When Bitcoin was smaller and retail dominated, hot money fueled explosive rallies and 80% crashes.