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<p class="is-style-lead">According to CryptoQuant CEO Ki Young Ju, if Bitcoin’s price stays above $45,000, it could surpass its all-time high within a year.</p>
<p>Bitcoin (<a href="https://crypto.news/price/bitcoin/" data-type="link" data-id="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) rebounded from a tumultuous weekend, and optimism remains in the crypto market despite some bearish indicators in the financial markets.&nbsp;</p>
<p>On Aug. 5, global financial markets <a href="https://crypto.news/deja-vu-what-bitcoins-past-patterns-reveal-about-its-post-black-monday-future/" data-type="link" data-id="https://crypto.news/deja-vu-what-bitcoins-past-patterns-reveal-about-its-post-black-monday-future/" target="_blank" rel="noopener noreferrer nofollow">experienced declines</a> as Japan’s benchmark index plummeted over 12%, while the Dow Jones and Nasdaq also saw substantial drops. Tech giants collectively lost $650 billion in market cap. The crypto market was also affected as Bitcoin dropped below $50,000, hitting $49,578.</p>
<p>Young Ju warned on X that the crypto market remains vulnerable. If Bitcoin stays at its current levels for a week or two, recovery seems likely, but prolonged stagnation could signal the onset of a bear market.&nbsp;</p>
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   <p lang="en" dir="ltr">As long as the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> price stays above $45K, it could break its all-time high again within a year, imo.<br><br>Some indicators are showing bearish signals. However, they could still recover with a rebound, so we need to watch if it stays at this level for a week or two.<br><br>If it… <a href="https://t.co/FnqafcQcjp" target="_blank" rel="noopener noreferrer nofollow">https://t.co/FnqafcQcjp</a> <a href="https://t.co/fJiM2btQeF" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/fJiM2btQeF</a></p>— Ki Young Ju (@ki_young_ju) <a href="https://twitter.com/ki_young_ju/status/1820836997487055301?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 6, 2024</a>
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<p>You might also like: <a href="https://crypto.news/why-is-donald-trump-calling-on-the-government-not-to-sell-bitcoin/" rel="noopener noreferrer nofollow"> Why is Donald Trump calling on the government not to sell Bitcoin? </a></p>
<h2 class="wp-block-heading" id="bitcoin-must-stay-above-45-000">Bitcoin must stay above $45,000</h2>
<p>Young Ju said that if Bitcoin’s price remained above $45,000, it could hit all-time highs, exceeding this year’s price of $73,737.94.</p>
<p>Young Ju <a href="https://x.com/ki_young_ju/status/1820865210741055718" target="_blank" rel="noopener noreferrer nofollow">believes</a> that the downturn may resemble the situation of early 2020 rather than late 2021. He attributes this to macroeconomic uncertainties rather than fundamental issues.</p>
<p>A significant trend is the movement of Bitcoin from long-time holders to newer ones and institutional investors, while the involvement of individual investors remains fairly limited. This change could play a key role in supporting the market during periods of economic instability.</p>
<p>Currently, Bitcoin is trading in the $56,000 range, reflecting a 13% increase since the lows of Aug. 5.</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-chart-showing-mixed-signals-following-crypto-black-monday/" rel="noopener noreferrer nofollow"> Bitcoin chart showing mixed signals following crypto Black Monday </a></p>

Bitcoin price to hit all-time high if it stays above $45k: CEO

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