CryptoQuant CEO allowed the possibility of the bitcoin price to fall to $14 000

Ki Young Ju believes that the first cryptocurrency’s rate decline may occur due to the macroeconomic crisis

23.05.2022 - 12:10

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What’s new? Ki Young Ju, the CEO of the analytics firm CryptoQuant, said that in a worst-case scenario, the bitcoin rate will fall to $14 000. The analyst came to these conclusions after studying historical metrics. According to Ki Young Ju, the fall in the price of BTC may occur due to the macroeconomic crisis. In this, he added that a bearish trend will bring guaranteed profits to investors. The analyst said this on Twitter.

So here's hopium for bears. If $BTC crashed so hard due to the macro crisis and all Bitcoiner institutions go underwater, it could go $14k based on historical MDD.— Ki Young Ju (@ki_young_ju) May 19, 2022

Analysts’ opinions and predictions. On May 19, the investor and author of the bestseller “Rich Dad Poor Dad” Robert Kiyosaki admitted that the price of bitcoin could drop to $20 000, $14 000, or even $9 000. In this, he remains positive about bitcoin’s long-term future.

Economist and founder of HS Dent Publishing Harry Dent allowed the possibility of the bitcoin price to fall below $3 000. In this, he believes the value of the first cryptocurrency could reach $500 000 at the next rise of the crypto market.

For more details on the most negative predictions of bitcoin price movement, see GetBlock Magazine’s article.

What happened before? CryptoQuant published data showing the outflow of bitcoins from exchanges. According to the charts, as of May 16, it recorded the lowest BTC netflow on platforms over the last 8 months.

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