CryptoQuant CEO Urges Traders Not to Sell Their Bitcoin Assets

Ki Young Ju, the CEO of CryptoQuant, has advised crypto traders against selling their Bitcoin assets at this time. According to him, the rise of the crypto market is yet to come and exiting right now means that investors will miss out on potential gains.

Don’t Let Excitement Be The Judge, Young Ju Says

While speaking about the current situation, Young Ju used a personal experience to show that FOMO actually caused him to miss out on potential gains. He recalled to a few years ago, when Bitcoin’s price reached $10,000 and he sold his assets as he got overly excited.

After he sold his assets, Bitcoin’s value increased to $17,000, but that was of little importance to him because he exited simply too early. He concluded by saying that Bitcoin’s current pace makes it an excellent long-term investment and one that might pay out.

Certain Investors are Scared Because of Mt. Gox’s Recent Bitcoin Transfer

Mt. Gox, one of the world’s biggest Bitcoin exchange platforms, recently moved more than 24,000 BTC assets. Their value was estimated at more than $2.4 billion. This move worried some investors as they thought that the company was selling because it had insights that Bitcoin’s value would start dropping.

Others believe that this is just a part of the company’s plan to repay investors after the security breach in 2018. At the time, over 850,000 BTC was lost and many investors are yet to receive refunds.

Whatever the reason is, the case has attracted many eyes due to the fact that it occurred shortly after Bitcoin crossed $100,000 in value. As for market forecasts, some experts believe that Bitcoin’s rally might go as high as $150,000.

Recently, President-elect Trump chose Paul Atkins as the new char of the SEC. Atkins is a huge advocate for cryptocurrencies and as such, many believe that Trump will likely introduce lighter measures for all digital assets, including Bitcoin (BTC).

This is one of the main reasons why some believe that Bitcoin’s rally is just getting started. Trump also named David Sacks as his lead advisor for policies in this field.