"Bitcoin can reach 140,000 dollars."

CryptoQuant CEO Ki Young Ju stated that the rise of Bitcoin (BTC) could continue up to 141,000 dollars.

Ju expressed that we are still in the early stages of the ongoing rally in Bitcoin. The famous figure shared his opinion on X (formerly known as Twitter) based on onchain data, exciting his followers. According to onchain data platform CryptoQuant, there has not been a significant increase in inflows to Bitcoin yet.

Onchain data indicates the rise for Bitcoin

In a post on social media platform X, Ju compared Bitcoin's price predictions based on realized cap with the previous two bull cycles. This comparison indicates that the upward trend in Bitcoin will continue. The analyst noted that Bitcoin's realized price is increasing every day.

Realized price measures the total capital inflow into the Bitcoin market. Analysts measure this metric using tools and algorithms that calculate the total value of Bitcoin. Ju emphasized that in bullish markets, the market value often exceeds the realized value, based on historical data.

According to the analyst, the market value of Bitcoin reaches its peak during periods when individual investors show intense interest. However, during bearish market periods, the market value can quickly drop below the realized value.

According to Ju, Bitcoin could reach higher levels without experiencing a major drop. According to the analyst, Bitcoin could reach $141,000 in this bull season. BTC is currently trading at $98,350 at the time of writing the news, with a 1% increase in the last 24 hours.

This article does not contain investment advice or recommendations. Every investment and trading activity carries risks and readers should conduct their own research when making decisions.