Current Bitcoin price ceiling projected at $135K — Ki Young Ju
Analysts continue to forecast a Bitcoin price target anywhere between $140,000-$500,000 during the current market cycle.
CryptoQuant founder and CEO Ki Young Ju has revised earlier price predictions and is now projecting a $135,000 Bitcoin (BTC) price ceiling, with a 2024 price target of $112,000, in his latest quantitative analysis of Bitcoin’s price action.
The CEO explained that capital flows into the Bitcoin market, including those from exchange-traded funds and products, support these price predictions. Ju indicated that these are “current” projections — a signal that the forecast is subject to change. The CEO also offered a word of caution to traders:
Ju recently warned market speculators and investors that the BTC-USDt (USDT) perpetual market was overleveraged by approximately 2.7 times more than in early 2024. Liquidations of leveraged long positions place downward pressure on Bitcoin’s price, and cascading liquidations can significantly pull back the price.
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Author: Vince Quill
