Kee Young Ju: "I know the bottom of the bitcoin price"

"In the long term, the bull cycle is not over yet. Looking at realized prices for various wallet groups, I'm guessing that the short-term correction could get to $47,000. I don't think current levels are a good place to capitalize on futures. I recommend taking a break and not trading."

According to CryptoQuant CEO, the current news background will subside anyway, and the crypto market will gradually start to recover its positions. However, positive signals from investors and traders are needed before bitcoin quotes return to the level they were at the end of June.

Earlier, Ki Yang Ju published statistics, according to which mining pools from the People's Republic of China occupy 54% of global cryptocurrency mining.