It's time for bitcoin (BTC) to rise, according to CryptoQuant CEO

 

Ki Young Ju, Cryptoquant's chief executive, said he expected a rise in Bitcoin and that it was time to go all-in.

In a recent tweet, Ki Young Ju told his 124,600 followers that he believed it was time to put their money into the world's largest cryptocurrency they were considering investing in. 

To support bullish statements, Ki Young Ju points to the correlation between the Bitcoin price and the stablecoin rate, a measure that divides BTC reserves into all stablecoin reserves stored on exchanges.

I think it's time. https://t.co/Do9CZ7BY85

— Ki Young Ju 주기영 (@ki_young_ju) March 29, 2021

A falling stablecoin rate suggests Bitcoin and the wider crypto market may be preparing for the next step, according to the CryptoQuant executive.

As well as the falling stablecoin rate, Ki Young Ju says the stablecoin market is flashing buying signals.

On March 17, when Bitcoin struggled to break $ 60,000, Ki Young Ju looked at the stablecoin market and tweeted that it would take longer for BTC to start another rally. He cited”a lot of BTC in USD compared to stablecoin assets " as the reason for this.