Ki Yong Joo: “The trend in the market remains “bearish”» – Bits Media

According to CryptoQuant CEO Ki Yong Joo, there are no signs of a transition of the cryptocurrency market from a "bearish" to a "bullish" trend, so the fall in BTC may continue.

During an interview with Chinese journalist Colin Wu (Colin Wu) Ki Yong Joo (Ki Young Ju), said, that the "whales" continue to transfer bitcoins to cryptocurrency exchanges. This indicates that, that they are selling their Bitcoin holdings. During the bull market, the whales, on the contrary, bring the bitcoins of the exchanges to cold wallets..

Currently, the Exchange Whale Ratio is 85%-90%, which indicates rather a bearish trend. but, according to Ki Young Joo, someone buys significant amounts of BTC:

"The problem is, that someone buys bitcoins outside the exchanges. There is a possibility, that soon some big companies will announce investments in bitcoin. The market is now great for scalping. If you are a long-term investor, then you can continue to store bitcoins. But in place of ordinary traders, I would not leave my position for a long time ", - noted the CEO of CryptoQuant.

Ki Yong Joo expects Ether capitalization to rise above, than bitcoin. But such an event may not happen this year., and, probably, not even next. Однако приход институциональных инвесторов на криптовалютный рынок и интерес к ETH сделает Эфириум крупнейшей монетой по капитализации.

According to Alex Mashinsky, CEO of Celsius Network, the first cryptocurrency rate can reach $140 000 already this year.