According to Ki Young Ju, CEO of CryptoQuant, the x.com/ki_young_ju/status/1791424394444869878″ target=”_blank” rel=”nofollow”>Current bitcoin Market The dynamics suggest a bullish phase that could extend until April 2025.
Ju's analysis comes amid btc's current bullish trend, which appears to be a continuation of that seen in March, when btc hit a new all-time high, surpassing $73,000 for the first time.
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bitcoin Market Cap Growth Indicates Prolonged Uptrend, Says CryptoQuant CEO
Notably, Ki Young Ju's prediction arises from an analysis of bitcoin's market capitalization growth, which has surpassed its realized capitalization, a measure of the market's aggregate cost base.
This trend is a classic indicator of a strong bull cycle and has been a reliable harbinger of sustained bullish momentum in previous market cycles.
Ju's analysis highlights that the rapid growth of market capitalization compared to realized capitalization suggests greater investor confidence and market momentum.
Historically, this pattern has signaled prolonged bullish phases. If current trends persist, this cycle is expected to continue, leading to significant gains in bitcoin value over the next year and a half.
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twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow”>#bitcoin It is in the middle of the bullish cycle.
Its market capitalization is growing faster than its realized capitalization, a trend that typically lasts about two years.
If this pattern continues, the bull cycle could end in April 2025. pic.twitter.com/o4k8B1Rkhv
– Ki Young Ju (@ki_young_ju) twitter.com/ki_young_ju/status/1791424394444869878?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow”>May 17, 2024
bitcoin has shown a positive trend, with an increase of 1.9% in the last 24 hours and an increase of more than 12% in the last two weeks. At the time of writing, it is trading around $67,201.
Institutional Adoption and Market Sentiments Support a Bullish Outlook
The optimistic outlook for btc is not based solely on historical trends and market capitalization analysis. Recent advances in institutional adoption provide further support for this positive trajectory.
Anthony Scaramucci, founder and managing partner of SkyBridge Capital and a prominent bitcoin advocate, recently twitter.com/SquawkCNBC/status/1791091349501993352?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow”>discussed on CNBC's Squawk Box how US pension funds are starting to invest in btc.
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“When you do your homework on bitcoin, you move towards bitcoin… sometimes when you get there early, you get some bumps and scratches, but I think it pays to be early in bitcoin and we are still early in bitcoin,” says Anthony of SkyBridge Capital . Scaramucci. pic.twitter.com/HTfbwH5VJG
– Squawk Box (@SquawkCNBC) twitter.com/SquawkCNBC/status/1791091349501993352?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow”>May 16, 2024
This measure of institutional investors, such as the State of bitcoin-etf” target=”_blank” rel=”nofollow”>Wisconsin Investment Board's Approximately $100 Million Investment in btcindicates broader acceptance and integration of btc into traditional financial wallets.
Scaramucci emphasized that institutional adoption of btc is developing rapidly and anticipates that more pension funds will seek investments in bitcoin. He noted that regulatory approvals have opened the doors to large-scale institutional participation in btc.
This support will make bitcoin a staple in these institutions' long-term asset allocation strategies. According to Scaramucci, understanding bitcoin and the history of money is key to recognizing its potential.
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He commented: Being early in bitcoin is profitable and “we're still early…sometimes when you're early, you get a few bumps and scrapes.”
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