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Reading: CryptoQuant CEO Ki Young Ju Signals Strong Buying Opportunity for Bitcoin
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COINTURK NEWS > Bitcoin (BTC) > CryptoQuant CEO Ki Young Ju Signals Strong Buying Opportunity for Bitcoin
Bitcoin (BTC)

CryptoQuant CEO Ki Young Ju Signals Strong Buying Opportunity for Bitcoin

In Brief

  • Ki Young Ju indicates a strong buying signal for Bitcoin.

  • Bitcoin wallets show an average profitability of 127% currently.

  • Investors can use these signals to make strategic decisions.

Fatih Uçar
Fatih Uçar 7 months ago
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Ki Young Ju, CEO of the on-chain analysis platform CryptoQuant, has provided a significant signal regarding Bitcoin’s (BTC) current price cycle. In a recent post on X, he explained that they combine on-chain cost-based indicators of Bitcoin $104,242 to create cyclical buy/sell signals. These signals trigger only 1-2 times in each cycle, guiding investors in identifying long-term buying and selling periods.

Contents
Profitability Status of Bitcoin Wallets AnalyzedSignals Serve as Guidance for Investors

Profitability Status of Bitcoin Wallets Analyzed

According to Ju’s data, the on-chain realized prices reveal the current profitability of Bitcoin wallets. Currently, Bitcoin wallets are facing an average profitability rate of 127%, and the buy/sell signal currently indicates a buying opportunity.

This profitability rate can drop to as low as -24% at the lows of Bitcoin’s price cycle, while it can reach as high as 298% during peak periods. This profit/loss cyclicality is crucial as it provides predefined alerts, enabling long-term investors to act more cautiously against fluctuations in the Bitcoin market.

Signals Serve as Guidance for Investors

Ju’s analysis suggests that the signals, inspired by Bitcoin’s historical price movements, could be a strong guide for investors. These rarely triggered signals in each cycle indicate buying or selling opportunities. It appears that Bitcoin’s current price level offers profit potential for long-term investors.

Such signals help investors prepare for fluctuations in Bitcoin cycles and allow them to act strategically against market changes.

Currently, Bitcoin, the largest cryptocurrency, is trading at $76,205, showing a 1.78% increase in the last 24 hours. Data also reveals that the largest cryptocurrency has risen by 9.94% over the past week, maintaining its position as the most valuable asset in the cryptocurrency market with a market capitalization of $1.5 trillion.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 8 November, 2024 - 1:36 pm 8 November, 2024 - 1:36 pm
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