Cryptocurrency analyst predicts a sharp drop in the cryptocurrency Bitcoin to $70,000

CryptoQuant founder Ki Eun-ju claims that even a sharp drop in the BTC rate to $70,000 after trying to reach $100,000 will not mean the end of its growth. Thus, such corrections can be «healthy» for the market.

The analyst noted that during previous «bullish cycles» Bitcoin had already lost up to 30% of its value, which did not prevent its further growth. For example, in 2021, BTC temporarily fell from $ 64,000, but later regained its position.

The expert urged investors not to panic during such corrections, as they are part of the natural dynamics of the market.

” Bitcoin remains a deflationary asset with a limited emission. Regular halvings (reducing the number of new coins) contribute to the growth of the cryptocurrency rate in the long term”, — he said.

The crypto expert also stressed that risk management is key for crypto investors, and time — their main ally.

According to his forecasts, the current «bull cycle» Bitcoin's halving, which began after the 2024 halving, will continue, and temporary price declines should not be taken as a sign of the end of this stage.

The analyst supported his opinion with graphs that demonstrate the cyclical nature of BTC's movement.

He recalled that Bitcoin's current trajectory corresponds to its previous cycles, when the cryptocurrency reached new highs.

At the time of writing, the Bitcoin rate reached $5.573, the market capitalization is $1.89 trillion, and daily sales reached $71 billion.