Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

CryptoQuant CEO makes shocking Bitcoin price prediction

Source Cryptopolitan

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 (CryptoQuant paid users only) 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 this time of the year.

However, Bitcoin could make a surge this time of the year going by the recent price surge as a result of the United States election results.

Weight of macroeconomic events and market trend

While Ki Young Ju’s comments may have caused debates in the market, it is no news that market trends are affected by macroeconomic events. The build-up to the United States presidential elections and the Fed rate cut were seen as factors that propelled Bitcoin to a new high.

Despite that, investors are vigilant and are looking for opportunities in the market. While some believe that a correction will present an opportunity to buy, others have faith in Bitcoin’s fundamentals.

Similarly, the bearish outlook from the CryptoQuant CEO may be one of the many directions for the asset, which may also react to other events like institutional adoption or the announcement of a new regulation.

Ki Young Ju’s position on BTC shows the uncertainty surrounding it and the volatility in the crypto space.

Even if Bitcoin remains strong in the face of external fluctuations and shows positive signs of market developments, the remaining days of 2024 are still filled with doubts. The prediction also takes into consideration the long-term dynamics of Bitcoin and the conditions that could affect its future.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin To Anchor America Party—’Fiat Is Hopeless,’ Says Elon Musk Musk Pitches Bitcoin As Pillar Of America Party

Author Bitcoinist

Jul 07, 2025

Musk Pitches Bitcoin As Pillar Of America Party

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Gold Price Forecast: XAU/USD opens lower around $4,450 on fears of widening Iran conflicts Gold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.

Author FXStreet

Mar 30, Mon

Gold price (XAU/USD) opens over 1% lower to near $4,445.00 on Monday, as oil prices have rallied further on fears of further widening of conflicts in the Middle East. WTI Oil price is up almost 3% above $102.50 in the opening trade, increasing fears of higher inflation expectations globally.

Silver Price Forecast: XAG/USD falls to near $72.00 amid fading safe-haven demand Silver price (XAG/USD) continues to lose ground after registering tiny losses in the previous day, trading around $72.90 during the Asian hours on Thursday. The safe-haven demand for the precious metal fades amid rising optimism over Middle East peace.

Author FXStreet

Yesterday 08: 19

Silver price (XAG/USD) continues to lose ground after registering tiny losses in the previous day, trading around $72.90 during the Asian hours on Thursday. The safe-haven demand for the precious metal fades amid rising optimism over Middle East peace.

Gold retreats sharply from two-week top/$4,800 as Trump’s Iran comments boost USD Gold (XAU/USD) witnessed an intraday turnaround from the $4,800 mark, or a fresh two-week high set earlier this Thursday, and for now, seems to have snapped a four-day winning streak amid resurgent US Dollar (USD) demand.

Author FXStreet

Yesterday 07: 03

Gold (XAU/USD) witnessed an intraday turnaround from the $4,800 mark, or a fresh two-week high set earlier this Thursday, and for now, seems to have snapped a four-day winning streak amid resurgent US Dollar (USD) demand.

Popular Symbols