CryptoQuant CEO: Bitcoin (BTC) Bull Market Has Enough Fuel Left in the Tank to Rally Higher

The chief executive of a prominent crypto analytics firm believes that the Bitcoin (BTC) bull market has enough fuel to witness more rallies.

The head honcho of a top crypto analytics platform believes that the Bitcoin (BTC) bull market still has what it takes to propel the king crypto to new highs.

In a new commentary on social media, CryptoQuant CEO Ki Young Ju tells his 401,300 followers on the platform X that demand for Bitcoin spot market exchange-traded funds (ETFs) is still indicating that deep-pocketed investors are positioning for more BTC rallies.

According to Ki, once the demand for Bitcoin ETFs fizzles out, it will signal the beginning of the end of BTC’s bull cycle.

“The Bitcoin bull cycle is not yet over.

The demand engine for paper Bitcoins is still running (2021 downturn started 2 months after GBTC inflows dried up.)

No need to rush calling the cyclical top until ETFs, MSTR, and institutional buying slow down.”

At the time of writing, Bitcoin is trading for $99,669.

Turning to altcoins, Ki believes that the narrative surrounding the digital assets will shift dramatically within the next five years.

According to the analyst, most altcoins will no longer be viewed as speculative assets, but rather as tokens that will be valued by investors based on their earnings – akin to how they value stocks.

“The era of altcoins existing solely as a measure of internet attention span will be over within 5 years. Meme coins will persist as gambling products…

Beyond those, altcoins that are actually building something will evolve into employment contracts for internet knowledge workers. It is undeniable future that these altcoins will evolve into an internet economic framework that enables compensation for the value generated in the processes of information creation, distribution, and acquisition.”