Bitcoin Bull Market Is Over: How Low Can BTC Plunge Now?

It seems that the happy sunshine days of the cryptocurrency market are over with the cloudy bear market murmurs taking over the domain rapidly. A new prediction floated by none other than CryptoQuant CEO Ki Young Ju has gripped the market, hitting investors with a stark reality check. Is the bear market truly upon us? Here’s what the Crypto Quant CEO has to say about his latest Bitcoin bear market prediction.

Bullish Days Ahead? Not Really

Investors have been eagerly waiting for Bitcoin to rise above the $100K mark amid the spree of positive cryptocurrency developments that have been taking place in the domain as of late. With President Donald Trump officially lending support to the dominion, it felt as if the market would deliver Stellar gains shortly. However, in an alternate scenario, the cryptocurrency market has reversed all its recent gains and has entered into the notorious bear market phase as predicted by Crypto Quant CEO Ki Young Ju.

Per Young Ju, the bear market is upon us, with the expert stating how investors should expect BTC to turn bearish and deliver nominal price performance.

In addition to this, Young Ju stated how every on-chain metric is signaling a bear market onslaught, with fresh liquidity drying up. He later shared how new whales have also been selling BTC at lower prices, indicative of a bear market momentum gradually taking over the domain.

Every on-chain metric signals a bear market. With fresh liquidity drying up, new whales are selling Bitcoin at lower prices.@cryptoquant_com users who subscribed to my alerts received this signal a few days ago. I assume they’ve already adjusted their positions, so I’m posting… pic.twitter.com/0EIrpTCPVi

How Low Can The Token Go Now?

As per leading finance expert Johnny Gabrielle, Bitcoin can drop as low as $70,000 amid the latest bear market conditions.

Gabrielle touts the aforementioned BTC price plunge as a temporary correction, stating that Bitcoin has the potential to surge if the token continues to be explored globally at a rapid pace.