CryptoQuant CEO predicts Bitcoin bear cycle

CryptoQuant CEO Ki Young Ju has expressed a bearish outlook for Bitcoin (CRYPTO:BTC), stating that the bull cycle may be over and predicting 6-12 months of bearish or sideways price action.

This assessment is based on onchain metrics indicating a bear market, with fresh liquidity drying up and new whales selling at lower prices.

Ju noted that all Bitcoin onchain metrics currently point to a bear market, a stark contrast to his earlier stance that the bull cycle was intact, albeit slow.

"Bitcoin bull cycle is over, expecting 6-12 months of bearish or sideways price action," he said. 

However, not all analysts share Ju's pessimism.

Swyftx lead analyst Pav Hundal suggests there is no reason to panic, citing strong global economic indicators and potential future risk appetite.

"There is no reason to panic," Hundal stated, emphasising that economic numbers point in the right direction.

Other analysts highlight Bitcoin's historical cycles and the potential for future rallies, especially if global money supply trends continue to support cryptocurrency growth.

For instance, crypto analyst Seth noted that the global money supply reaching new highs could signal an upcoming Bitcoin rally.

"We are about to see Bitcoin rally again," he stated.

Despite these mixed views, Bitcoin's recent price correction has sparked debate about its future trajectory.

With predictions ranging from bearish outlooks to potential all-time highs, investors are closely watching for signs of a recovery or further decline.

The ongoing debate reflects the inherent volatility and unpredictability of the cryptocurrency market.

At the time of reporting, the Bitcoin (BTC) price was $83,117.96.