Analyst Names "Starting Point" for Next Bitcoin Bull Run !!!

[tokyohd]

Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, has predicted that $30,000 will be the starting point of another bull run. Ju has pointed to the fact that most people are still underwater at current prices in response to a tweet about MicroStrategy's realized price being $30,664. The business intelligence firm recently announced that it had purchased another 480 coins. As reported by U.Today, Ju predicted a "big short squeeze" last week ahead of Bitcoin's recent rally. Earlier today, the largest cryptocurrency spiked to $23,855, the highest level since June 13. On Tuesday, Mark Newton, global head of technical strategy at Fundstrat Global Advisors, predicted that Bitcoin could potentially reclaim the $28,000 level before taking a breather. The cryptocurrency is now up by nearly 37% since hitting the local bottom of $17,592 on June 18 during a massive sell-off.

Read more on U.Today
https://u.today/analyst-names-starting-point-for-next-bitcoin-bull-run

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[tbct_mt2]

We are not in a starting point of next bull run but in a last preparation time for next bull run.

We see market crash, we see liquidations, we see blood path, we see miners selling their Bitcoin to cover electricity bills but lot of people are still in. If most of them have yet given up, have yet capitulated, bull run won't start.

I meant starting point for next bull run is still in future, we did not get to that point. Selling what you own to cover something does not mean you are capitulating.

[Oshosondy]

All I can say is that you should be your own analyst. If the price of bitcoin has fallen significantly, then buy and hold. If the price of bitcoin has increased so significantly, then sell and wait until its price decrease very well and you can buy.

At $30000? The bull run will begin? Why not just hold and see if it will be true or not. I do not believe in analysts though, I prefer to hold after massive bear market which had occured already.

[mk4]

Great. More unnecessary "analyst" articles. They don't mean crap but yet we keep posting 'em here. Sigh.

[P2PECS]

I don't pay much attention to these analysts either. The $30,000 may or may not be the start of a bull run. And I rather think not, because there is nothing to indicate that we can beat $69,000 this cycle, it would be quite unlikely. Rallies from these levels, sure we will have, but bull run I don't expect it before the next halving.

[Rruchi man]

All I can say is that you should be your own analyst.

This is good advice, do your own research, Invest time to study and know your onions, your own analysis is golden and should not be substituted for another persons own maybe because they have been in the market longer than you have. This is not also an encouragement to ignore the advice or analysis of other people who you know are more knowledgeable than you are, it is an advice to task yourself to become more knowledgeable that your analysis become your first opinion completely uninfluenced by another persons own.

[hZti]

These analysts are the worst because obviously they do the effort for their analysis not for free. They always want to influence the market either in their own interest or in the interest of somebody else. The question is always: Did they buy coins and want the market to go up, or do they have coins they want to get rid of and therefore want a better sell price. Since nobody knows it all those analysis are worthless.

[franky1]

topic creator thinks the price point is $30k because one guy bought under 500 coins at $30k.. pfft
the very same guy also bought thousands of coins at: (all noted prices are where he(microstrategy) bought coin)


i have hoards from 2012 and some coins after that and yes even i bought some more in recent months at the $30k mark.. but overall. means nothing

[hZti]

topic creator thinks the price point is $30k because one guy bought under 500 coins at $30k.. pfft

I can also only laugh about stuff like this. Only because microstrategy is publicly known and a big fund does not mean they can influence the market. I would bet that there are many people in this forum that own way more than 500 Bitcoin and influence the market way more if they decide to buy or to sell. But there are also enough noobs that follows these news anyway.

[dragonvslinux]

topic creator thinks the price point is $30k because one guy bought under 500 coins at $30k.. pfft

I can also only laugh about stuff like this. Only because microstrategy is publicly known and a big fund does not mean they can influence the market. I would bet that there are many people in this forum that own way more than 500 Bitcoin and influence the market way more if they decide to buy or to sell. But there are also enough noobs that follows these news anyway.

I think this is more about $30K that acted as strong support for 18 months, so if price is able to get above this, there could be a "bull run" up to $50K (relatively easily). This is more based on the dead cat bounce scenario such as in 2019 from $3.2K to $14K, whereby once the bear market was considered over, many buyers emerged and/or returned. I don't think this means a "bull market" would begin as such, as there will be many metrics that suggest price needs considerably more time to consolidate (moving averages, usual cycles, etc). But more that above previous support price can go considerably higher.

Likewise price rebounding in the near future to $40K, even $50K, doesn't mean it'll make a new ATH. Quite the opposite. I'd argue there's as much chance it returns to $25K to $30K afterwards. The more relevant analysis here would be that if price get's heavily rejected from $30K, and fails to move above it, there will be no continuation of bullish momentum for a while and price could make a new low.

[tabas]

It's like any other prediction and analysis about the bull run. Something like "when we hit this $xx,xxx, that's the start and when we hit this low $xx,xxx then we're now in a bear."
Actually, there's nothing new with these predictions and if there have been predictions that have been accurate with the current pump then they're not that many.

[cryptomaniac_xxx]

Likewise price rebounding in the near future to $40K, even $50K, doesn't mean it'll make a new ATH. Quite the opposite. I'd argue there's as much chance it returns to $25K to $30K afterwards. The more relevant analysis here would be that if price get's heavily rejected from $30K, and fails to move above it, there will be no continuation of bullish momentum for a while and price could make a new low.

I think this will likely be the scenario, at least for me, price not reaching $30k for some reason, gets rejected and then we will be on the sideways again as their is no bullish momentum.

Investors are still very adamant because of what is going on around the world. And probably those who have been buying at $19k will no longer getting when the price hits around $28k. It could be that they are exhausted already, or just waiting to take profits anytime soon.

[doomloop]

There are now too many analysts saying completely different things, which further confuses the picture of what is going on. I don't think you should listen to all these analysts, because more often than not they are wrong. There are even infographics for many of them, where who said what and where the price went after that. Sometimes it is very funny, because the result is the opposite of expectations.

Well, the market is already confusing ever since, so it's only up to you if you will got carried away with it or you will only listen and stick on one side. For me, I am just one sided at all times. I only believe that bitcoin will rise even if it's already dumping.

As long as it is true that they are really an analyst then I think it's not bad to listen on their advises especially if you are not confident enough on your decisions but I better I like it when there are infographics, charts and other tools which are more convincing than this one here. It is also normal for a prediction to fail, because they are only human, not super humans which can see the future.

[BitcoinPanther]

Who knows when the next bull run is, I bet no one can precisely predict when it is.  I also don't think that price of Bitcoin alone can be considered the starting point of a bull run.  It should meet the market requirements such as sentiments, news, demands, etc.  Bitcoin can reach $30k  and yet be labeled as another lower high then crash again.

[palle11]

Who knows when the next bull run is, I bet no one can precisely predict when it is.  I also don't think that price of Bitcoin alone can be considered the starting point of a bull run.  It should meet the market requirements such as sentiments, news, demands, etc.  Bitcoin can reach $30k  and yet be labeled as another lower high then crash again.

Gradually the price of bitcoin has be calm and on a sideways movement . I think the expectation of what will happen after Tesla sold some amount is still keeping the market with uncertainty. This week has been on indecisive sentiment , probability the direction may come clear by next week either for continuous bull or bear.

[el kaka22]

I am not an analyst still I like to call that we have already passed the starting point. I mean that we have already bottomed out in usual terms. The problem with analysis about bitcoin is, we cannot say about a starting point because, bitcoin market is well known for showing us the same starting point for months. Remember that we had predicted that $4000 was bottom in 2018 but we got to see it another time in 2020 thanks to beginning of pandemic.

I guess we may see bitcoin for one or more time around $20k still we may not see anything below to that for longer period. Similarly, we may see $30k at any time soon but that doesn't means that we again will never see $29k levels. Like people do say, the long term trend of bitcoin is always bullish but the short term is really a confusing one.

[slaman29]

Great. More unnecessary "analyst" articles. They don't mean crap but yet we keep posting 'em here. Sigh.

Hey, I need my analyst fix. I'm also so glad now to see some news reports actually start off by saying some synonym of famous like 'wellknown'  or 'active on Twitter' so I know I'm reading an opinion of a guy who's popular.

Some even make it a point to tell me how many thousand followers they have on Twitter, what great times lol

[coolcoinz]

Ki Young Ju, CEO of South Korean on-chain analytics resource CryptoQuant, has predicted that $30,000 will be the starting point of another bull run. Ju has pointed to the fact that most people are still underwater at current prices

Really? I'd like to know his reasoning for that.
He basically says that most people who are still holding bitcoin bought at higher prices than 23k? That's bullshit.

From what I've seen, the majority of current holders have Bitcoins cheaper than 20k and most of those who bought at 50k and above sold at a loss when we broke below 40 and then 30k. Most peopel are not underwater below 30k. Maybe he means the whales like microstrategy, but it clearly says most people. Most people did not buy bitcoin in 2021 but in the 11 year prior to that. Even trading volume proves it because the 2017 bull market had much higher volumes than 2021, so much more coins changed hands and I'm not talking 2 times more, I'm talking over 5 times more.