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CryptoQuant CEO Ki Young Ju has made a shocking prediction regarding the price of Bitcoin for the end of 2024. With Bitcoin finally hitting a new all-time high of $77,252.75, the market is expecting further upsides. However, Ki Young Ju suggests the asset could disappoint the general market. According to Ki Young Ju’s post on X, Bitcoin might make a reverse fortune to close at $58,897 by the end of the year. However, he added a disclaimer to show that he might be wrong about the prediction. His recent comment comes after Bitcoin made an impressive leap to hit a new all-time high of $77,252.75, per Coinmarketcap. CryptoQuant CEO predicts a 24% drop in Bitcoin’s price The CryptoQuant CEO’s prediction signals a 24% drop in the price of the asset before the end of the year. Before his prediction, Ki Young Ju had initially asked his X followers to guess the asset’s price at the end of the year. He promised whoever got the closest figure a giveaway of 0.1 BTC, about $7,600 in today’s market. Comment 2024 close #Bitcoin price. I’ll give you 0.1 BTC for the closest guess. CryptoQuant paid users only. — Ki Young Ju (@ki_young_ju) November 4, 2024 While some of his followers have been making six-digit predictions due to the asset’s recent run, others were modest about their answers. However, predicting Bitcoin’s price in December has always been a tough call. According to data from CoinGlass, Bitcoin has registered greens in five months and reds in the other five months over the last ten years. Bitcoin’s volatility around the end of the year is always driven by an expected rally called ‘the Santa Claus Rally’, which might produce bullish or bearish outcomes. This way, investors need to be careful how they approach the market at…

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Filed under: News - @ November 9, 2024 10:17 pm