CryptoQuant reported:
Chief Executive Officer Ki Young Ju recently conducted an in-depth analysis of the current cryptocurrency market conditions. Known for his expertise in on-chain data, Ju’s assessments during critical periods are highly regarded within the industry. How does he view the current situation?
Market Decline and Analysis
Bitcoin is currently trading at $56,400, with no halt in the downward trend. Panic selling driven by substantial BTC transactions has created immense selling pressure, exceeding inflows from government and MTGOX repayments. Ju noted a surge in market trading volume, with altcoins suffering double-digit losses. Visit NEWSLINKER for the latest in tech news.
In his analysis, Ju remarked, “I believe the Bitcoin bull market cycle will continue into early next year. Spot traders should consider dollar-cost averaging and be mindful that prices could drop to $47,000.” He cautioned against opening high-leverage positions based on his tweets for those lacking futures trading experience. “My recent warnings about excessive risk have been clear, yet some persist in holding risky long positions. My insights stem from spot trading and a long-term perspective. Always conduct your own research and remain vigilant.”
What Awaits Investors?
Recent data on employment and wage growth have been positive, with unemployment rising above 4% and wage growth slowing. Revised non-farm payroll figures also confirmed soft employment, pushing BTC prices past the $57,000 mark. Market forecasts suggest the Fed might cut rates twice before year-end. Furthermore, Fed officials indicated progress toward achieving their 2% inflation target, which could buoy risk markets at their upcoming meeting.
Investor Caution Strategies
• Consider dollar-cost averaging for spot trading.
• Avoid high-leverage positions if lacking experience in futures trading.
• Conduct personal research before making investment decisions.
• Stay informed about Fed policies and market data.
It remains uncertain whether cryptocurrency investors will endure declines throughout July. Much depends on MTGOX repayments and the pace of sales, with questions remaining about how much will be liquidated into cash versus returned as BTC to investors.
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Disclaimer: This article contains information that does not constitute investment advice. Investors should be aware of the high volatility of cryptocurrencies, thus involving risks, and should conduct their own research.