*Bitcoin reaching $100,000*
With the increase experienced by $BTC Ki Young Ju, founder and CEO of the on-chain analysis company Crypto Quant, he questions his theory that the bear cycle has ended.
He is no longer sure about the stark projection he made six weeks ago for the price of bitcoin $BTC. At that time, he warned that the bullish cycle of the currency had ended, but with its rise this week to USD 95,000, its highest in two months, he has put that theory in doubt.
After stating that the bullish cycle had ended, bitcoin fell by 10%, but it is now 10% above where it was when he made that forecast. Therefore, although he has not completely discarded his hypothesis, he revealed that he is reassessing his position.
“If it surpasses $100,000, I will gladly admit my mistake,” he expressed. With the price surge it has had, he detailed that he will remain attentive to the data for a few more weeks to see if it is truly a change in trend from what he observed before.
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