Cryptoquant founder Ki Young Ju suggests a positive outlook for Bitcoin, with predictions that traditional financial institutions and governments will announce Bitcoin acquisitions in Q3 2024.
Bitcoin’s price has rebounded sharply from recent lows, surging over 15% to exceed $57,500.
While the broader crypto market has experienced strong volatility over the past weeks, Bitcoin whales have been buying at every dip. According to on-chain data, Bitcoin permanent addresses have accumulated more than $23 billion worth of BTC over the past month.
In the latest post on X, Cryptoquant founder Ki Young Ju noted that something major has been happening “behind the scenes.” He added that in the last 30 days, Bitcoin HODLers have accumulated 404,448 BTC despite the market dips. This shows a high level of confidence among institutional players and whales willing to buy at every dip.
Ju predicted that in a year’s time, all TradFi institutions, governments, and other firms “will announce tha
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