CryptoQuant CEO: If Bitcoin hits a new ATH before Q4, we will completely abandon the cycle theory

BlockBeats News, April 23rd, CryptoQuant CEO Ki Young Ju posted on social media:

「After I announced the end of the bull market cycle, Bitcoin once fell by 10%, but now the price is 10% higher than when I made my judgment.

I still believe we are in a wide range of fluctuations. If we break through the $100,000 mark, I will gladly admit my mistake. Until then, I will continue to observe data for several weeks to confirm whether this is a true trend reversal.

My analysis is mainly based on the long-term supply and demand relationship of on-chain data. But in this market that reacts to every word of Trump, short-term price movements are more event-driven, making traditional cyclical on-chain indicators less effective. Of course, even among on-chain analysts, the interpretation of data may vary widely.

If Bitcoin hits a new all-time high before the fourth quarter, I will completely abandon cycle theory. A market without a clear cycle may be entirely different from what we have known. At that time, the permabulls will be right—perpetual growth.」