The post End Of The ‘Pain’ — Bitcoin Primed For 40% Gain, Analytics Firm CEO Says appeared on BitcoinEthereumNews.com.

As expected, the Bitcoin and crypto frenzy will occur hours after Republican Donald Trump’s election. Crypto has become an election issue, with Trump offering a more friendly policy tone than his rival, Kamala Harris, who conceded to Trump’s victory, yesterday. Bitcoin surged by 8% during the early hours of trading, topping $75,000, better than its March record. This is just the start of a Bitcoin price surge for many market analysts.  According to Ki Young Ju, CryptoQuant’s CEO, Bitcoin’s price can still increase in the short term, with up to 40% upside. Based on today’s Bitcoin price range, it’s now part of the Top 10 largest financial assets by market cap. However, Young Ju cautions holders to become realistic in the short term and recommends gradual selling as “max pain” eases. Bitcoin hits a new ATH. Source: Bitstamp Crypto Market Sees ‘Easing Period,’ Setting Up For A Price Surge Now that the election fever has settled, market analysts and observers focus on Bitcoin and crypto’s cyclical nature. According to Ki Young Ju, BTC holders’ behavior often coincides with the asset’s cyclical nature. He shared that new holders frequently endure price breakdowns during bear months, only to discover these assets change hands two years after the “max pain” has subsided. New investors often hold $BTC through bear markets, enduring losses. After about two years, it changes hands when pain eases. That time is now. It could go up +30-40% from here, but not like the +368% we saw from $16K. Time to consider gradual selling, not all-in buying, imo. pic.twitter.com/hXRT6YBsxS — Ki Young Ju (@ki_young_ju) November 6, 2024 In a Twitter/X post, Ju added that the assets’ “changing of hands and easing of pain” happen now. From here, the CEO projects the price to surge by 30 or even 40%. However,…

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Filed under: News - @ November 7, 2024 2:22 pm