Bitcoin (BTC) price growth may sustain its momentum, according to a consensus among South Korean cryptocurrency analysts. As the "crypto craze" gains traction in the country, experts predict further upward trends for BTC, albeit with warnings of short-term corrections.
Key Insights on Bitcoin's Price Trajectory
1. Market Sentiment and Expert Predictions
- Industry Consensus: Analysts cited by The Korea Economic Daily agree that Bitcoin's price will continue rising, though they anticipate temporary adjustments.
- CryptoQuant CEO Ju Ki-young remarked, "If market overheating peaks at 100, we’re currently at around 50," suggesting room for growth before peak bullishness.
2. Retail Investor Caution
- Despite rising prices, many retail investors remain hesitant, scarred by past losses during the 2018 and 2022 market downturns.
- The Kimchi Premium—a unique溢价现象 where BTC trades higher in South Korea than globally—currently hovers at ~8% (vs. historical highs of 20–30%).
👉 Why the Kimchi Premium Matters for Crypto Traders
Factors Driving Bitcoin’s Growth
3. On-Chain Momentum
- Fresh capital inflows indicate potential for a parabolic bull run, per Ju Ki-young’s recent analysis.
- BTC could test $114,000 if current trends hold.
4. Retail Participation
Kimchi Premium Rates:
- BTC: ~6,070 USD higher in South Korea vs. global exchanges.
- XRP: Similar溢价 observed.
- Market enthusiasm lags behind previous bull cycles, signaling cautious optimism.
FAQs: Addressing Common Queries
Q1: Is Bitcoin’s current growth sustainable?
A: Analysts believe so, but short-term corrections are likely.
Q2: What’s the Kimchi Premium?
A: A price gap where cryptos trade higher in South Korea due to local demand-supply imbalances.
Q3: Why are retail investors hesitant?
A: Past losses and fear of volatility keep many sidelined.
👉 How to Navigate Crypto Market Volatility
Conclusion
While Bitcoin’s upward trend appears robust, Ju Ki-young emphasizes this is a mid-bull market phase. Retail activity and Kimchi Premium dynamics will be critical indicators moving forward.
For real-time updates, follow expert analyses and market trends.
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