Ki-Young Ju believes Bitcoin Isn't Falling Below $20,000 Anytime Soon

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Bitcoin is "unlikely" to sink over $20,000, says CryptoQuant analyst Ki-Young Ju.

To turn out that way the institutional investors who hold the largest cryptocurrency during the previous bull market cycle, which lasted from 2020 to 2021, would have to give up.

The rally, though, has already ground to a stop. At the time of writing, the cryptocurrency was trading at $31,704.44, up 4.49%.

Ju states, that the digital asset is under management at Coinbase Custody and has risen by 296%  since the fourth quarter of 2022. On behalf of institutional clients, it presently maintains around 1.4 million Bitcoins.