Is History Rhyming for Bull Run?

• CryptoQuant CEO says a 30% Bitcoin correction is typical in bull cycles, citing past 53% drops.  
• Historical data suggests Bitcoin remains in a bullish phase despite short-term volatility.  
• A cost basis of $95K is a critical level for institutions and miners, indicating long-term market stability.

Bitcoin dropped by 30% rattling investors; however, historical data shows such corrections in a bull cycle are nothing unusual. 

CryptoQuant CEO: Bitcoin Dip Normal in Bull Market

CryptoQuant CEO and analyst Ki Young Ju reassures traders and explains that in 2021, BTC plunged by 53% before rebounding to an all-time high. 

This historical pattern highlights the volatility built into crypto markets while supporting Bitcoin’s long-term upward path.  

“Panic Selling Shows Inexperience” – Ki Young Ju

Mincing no words, he stated that panic selling at this stage is a sign of inexperience. “If you’re panic selling now, you’re probably a noob,” he wrote on X. 

With this statement, Ju meant to say that long-term investors with a strategic plan tend to do better than impulsive traders.  

Key Bitcoin Cost Basis Levels Revealed

He also stood by his February 19 prediction, calling $95K a key cost basis for institutional players. Crypto firms, ETFs, and mining companies have historically relied on price levels at $89K to gauge market direction. 

Notably, mining companies, with a cost basis of $57,000, are seen as a key indicator of market health. In the past, a drop below this level has signaled the start of bear markets, as seen in May 2022, March 2020, and November 2018. 

Related: Robert Kiyosaki Says Bitcoin is on Sale, Calls Price Drop a Buying Opportunity

Bitcoin’s Evolving Stability: Whales, Dips, & CZ’s Volatility Forecast

Yu pointed out that Bitcoin has never breached the $25K level held by old whales, reinforcing the notion that the asset remains in a bull cycle. His insights shed light on the varying levels of resilience and potential selling pressure within the Bitcoin ecosystem.

Based on such diverse investment strategies and risk tolerances, the analyst remains optimistic amidst market fluctuations. He further stated that even a 30% dip from Bitcoin’s all-time high (e.g., $110K → $77K) wouldn’t signal the end of the bull market.

In the midst of Bitcoin’s future discussion, former Binance CEO CZ recently offered a humorous, yet insightful, prediction about Bitcoin’s volatility. He joked about future headlines decrying a Bitcoin “crash” from $1,001,000 to $985,000″, suggesting that as Bitcoin’s market capitalization expands, its volatility will naturally decrease.

Related:  CZ Scoffs at Bitcoin “Crash” Talk as BTC Slides Under $90K

While short-term volatility may lead to uncertainty, seasoned investors remain resilient, betting on Bitcoin’s historical stability and long-term potential.