Bitcoin has reached a new all-time high of $80,000, with a Bitcoin Fear and Greed Index showing “Extreme Greed” among market participants. This surge in value is due to increased trading volume and growing interest from retail and institutional investors. However, there are mixed views on whether Bitcoin will continue to rise or face a potential correction.
The CEO of CryptoQuant, Ki Young Ju, believes that as Bitcoin enters the price discovery phase, there could be a correction when prices hit these levels. With 100% of Bitcoin addresses currently in profit, investors may soon take advantage of the opportunity to sell, leading to a potential “wave-4 correction” before further upward movement.
