PANews reported on April 23 that Ki Young Ju, founder and CEO of CryptoQuant, posted on X platform: "After I said the bull market cycle was over, Bitcoin dropped 10% - but now its price is 10% higher than when I made that judgment. I still believe we are in a wide-ranging oscillation interval. If Bitcoin breaks through $100,000, I will be happy to admit I was wrong. Before that, I will continue to observe the data for a few weeks to see if this is truly a trend reversal.
I focus on using on-chain data to analyze long-term supply and demand. However, in a market that reacts to every word of Trump, short-term price movements are more event-driven, which makes it more difficult to analyze them with cyclical on-chain indicators. Of course, even among on-chain analysts, there may be differences in data interpretation. If Bitcoin reaches a new high before the fourth quarter, I am prepared to abandon the cycle theory. A market without a clear cycle could be very different from what we have experienced. In this case, those who are always bullish would be right. Only rising, never falling."
