Ki Young Ju, the founder of the analytics platform CryptoQuant, has warned investors not to succumb to the temptation of selling their Bitcoin hastily.
This warning comes as Bitcoin ultimately broke through the $100K mark, one of its highest psychological resistance levels. Bitcoin has since peaked at $103,900 before settling slightly below that level.
Prior to this milestone, some analysts speculated that the market could experience a significant downturn after Bitcoin crossed the $100K threshold, with many anticipating profit-taking at such a major psychological level.
However, according to analysts like Young Ju, selling at this point could be costly. “Don’t sell your Bitcoin,” he urged, emphasizing that Bitcoin is currently in a price discovery phase and exiting the market too early might be unwise.
Personal Regret for Closing “Generational” Bitcoin Long
Young Ju shared a personal anecdote to illustrate his point. He recalled a key moment about four years ago when Bitcoin first reached $10,000 after months of consolidation.
Overcome with excitement, he took a screenshot of the milestone on Binance. However, what followed was even more remarkable: Bitcoin has never dipped below $10,000 since that time.
Later, Young Ju opened a “generational long” position on Bitcoin at the $17K price, planning to hold it for years and eventually pass it down to his grandson. However, he exited the market too early.
Looking back, he admitted his biggest regret was closing the position too soon. He acknowledged that even experienced traders often act impulsively despite their insights.
The CryptoQuant founder used this reflection to highlight a key lesson he has learned over the years: Bitcoin’s price discovery phase occurs every four years.
With this in mind, he urged the crypto community to step back and consider the bigger picture. He cautioned against the tendency to react too quickly during volatile market phases.
What’s Next for Bitcoin After $100K?
Notably, industry experts see Bitcoin’s $100K milestone as just the beginning. Bitwise CIO Matt Hougan argues that Bitcoin’s true target is $500K, at which point he believes BTC would evolve into a mature store of value, similar to gold. He expects Bitcoin to capture 50% of gold’s market cap, fueled by government and institutional investment.
In the short term, analyst Ali Martinez predicts Bitcoin could reach $138K, possibly $150K, before a pullback. Corrections may bring it down to $105K or $96K, with support at $83K and $72K.
Institutional FOMO in Bitcoin at $100K
Remarkably, institutional investors are now FOMO-buying Bitcoin at the $100K level. A recent report revealed that publicly traded Bitcoin mining firm Hut 8 plans to raise up to $500 million to purchase Bitcoin as a strategic reserve asset.
This institutional FOMO is further underscored by data showing sustained buying pressure from U.S. investors, as highlighted by the Coinbase Premium Index.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
