- Bitcoin bounces above $ 93,000 after reaching $ 94,700 on Tuesday.
- Ki Young Ju remains skeptical despite the recovery of prices from April levels.
- Other analysts see the current rally confirming the long -term upward trend.
Ki Young Ju, CEO of Cryptochant, insists that Bitcoin must reach the crucial barrier of $ 100,000 before changing its pessimistic evaluation of the current market cycle, even in the light of the remarkable recent resurgence of cryptocurrency.
Bitcoin showed resilience this week and won 2.71% on Monday April 21, followed by a substantial increase of 6.83% on Tuesday, April 22. This upward momentum reported Bitcoin over $ 90,000 for the first time in almost a month, reaching a summit of $ 94,700 – a figure that is seen in seven weeks. Even with a minor retirement of 0.43% today, Bitcoin maintained its position greater than $ 93,000, reviving optimism among many market analysts.
This recovery questions the previous evaluation of Ki Young Ju from March 18, when he said that Bitcoin Bull Run was finished while cryptocurrency had $ 83,000. At that time, the CEO Cryptoque highlighted several factors concerning, including reduced liquidity, reduction in ETF entries and the inability of significant trading volumes to unravel the level of resistance of $ 100,000.
After its lower declaration, Bitcoin continued its downward trajectory, finally falling at $ 74,000 on April 7, representing a decrease of 10% compared to the $ 82,000 mark. Although BTC briefly bouncing over $ 82,000 shortly after, it was confined to the lower range of $ 80,000 to this week.
Ki recognizes the impressive recovery of Bitcoin
In his last updateKi recognized the impressive resumption of Bitcoin, but stressed that he is not convinced of an optimistic trend confirmed unless the prices decompose decisively of more than $ 100,000. It plans to continue to analyze data on the chain in the coming weeks to determine whether the current momentum represents a real cycle reversal or simply a temporary rebound.
Ki highlighted the challenges of relying on cyclical indicators on the chain on a market that frequently reacts unpredictably to news events, including political developments. He stressed that his analytical approach focuses mainly on basic supply and demand models rather than short -term price fluctuations.
Contrary to the prudent perspective of Ki, other eminent analysts have expressed greater confidence in the current ascending trajectory of Bitcoin. According to market expert Miles Deutscher, Bitcoin has been on a growing long -term track since 2022, and the currency is still on a bull market.
According to DeutscherThe last decline only withdrew a crucial support point which was aligned with the “Paradise Money Noodle” indicator, which continuously served as a basis for price rallies in the previous two years.
The veteran merchant Peter Brandt has also changed his point of view in reaction to the most recent rebound. Brandt had previously warned against Bitcoin even after breaking up large resistance levels. According to Brandt, the rebound may indicate that the overall upward trend will continue.
share
