Bitcoin Bull Cycle Continues Despite Correction, Says Analyst

• Bitcoin (BTC) is still in a bull cycle despite a correction, according to Quant Analyst Ki Young Ju. The majority of BTC acquired or mined more than 6 months ago is remaining static, indicating low selling pressure from long-term holders.
• A price rally for the leading digital asset is not guaranteed, however. Ki Young Ju says that the crypto market is likely to remain calm until supply of stablecoins rises.
• USDT currently dominates the stablecoin market with its $83.8 billion market cap compared to USDC’s $26.6 billion cap.

Bitcoin Still in Bull Cycle Despite Correction

Quant Analyst Ki Young Ju has stated that Bitcoin (BTC) is still in a bull cycle despite the recent correction, due to low selling pressure from long-term holders who have held their coins for more than six months without moving them. However, he warned that a price rally for the leading digital asset isn’t guaranteed and that the crypto market may remain calm until more stablecoins are injected into the system for buy-side liquidity.

USDT’s Dominance in Stablecoin Market

At present, USDT’s dominance in the stablecoin market shows no signs of slowing down with its $83.8 billion market cap compared to USDC’s $26.6 billion cap. This indicates an increasing demand for Tether as people use it to purchase Bitcoin and other cryptocurrencies on exchanges where it is supported as a payment method.

Low Selling Pressure Doesn’t Guarantee Price Increase

Ki Young Ju clarified that although low selling pressure does not guarantee a price increase for Bitcoin, it does make it less likely that BTC is at its cyclic top right now. He also noted that Stablecoins are good for BTC as they allow people to buy it using them instead of fiat currency or other cryptos like Ethereum or Litecoin which have higher transaction fees associated with them most of the time.

Stablecoin Fuel Running Low

Ki Young Ju also mentioned last month that stablecoin fuel was running low and urged investors to be aware of this before making any significant investments or trades with their funds until more stablecoins were injected into the system by miners and institutions alike in order to provide sufficient buy-side liquidity support on exchanges and trading platforms around the world.


Overall, Ki Young Ju believes that although there are no guarantees regarding future prices of Bitcoin due to various external factors such as regulatory changes and global economic instability, he sees potential upside ahead if enough supply of stablecoins can be provided so traders can acquire cryptocurrency assets safely and securely without having too much fear about volatility risks associated with investing directly into cryptos like Bitcoin or Ethereum etcetera .