According to Ki Young Ju in a series of tweets shared with his teeming followers on Twitter, historical data shows that Bitcoin could further crash to the $14,000 price level.

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Ki Young Ju tweeted, “So here’s hopium for bears. If BTC crashed so hard due to the macro crisis and all Bitcoiner institutions go underwater, it could go $14k based on historical MDD.”

So here's hopium for bears.

If $BTC crashed so hard due to the macro crisis and all Bitcoiner institutions go underwater, it could go $14k based on historical MDD.

— Ki Young Ju (@ki_young_ju) May 19, 2022

At the time of filing this report, Bitcoin (BTC) is trading at 29,413, with a 0.23% price increase in the last 24 hours. Considering the current price of Bitcoin, the analyst’s bearish price target suggests a 52% downside risk.

According to Ki Young Ju, if prices fall into his worst-case scenario, the new Bitcoin investors will record the highest loss.

Captioning the screenshot of a chart, the analyst wrote, “Bitcoin maximum drawdown in worst-case scenario. Newbies down 67%. Experienced one bear cycle – down 39%. Experienced two bear cycles – profit guaranteed. Experienced three bear cycles – profit guaranteed. Today, newbies who joined last year are in -34% loss.”

#Bitcoin Maximum Drawdown in Worst-case Scenario

Newbies -67%
Experienced 1 bear cycle -39%
Experienced 2 bear cycles – Profit Guaranteed
Experienced 3 bear cycles – Profit Guaranteed

Today, newbies who joined last year are in -34% loss. https://t.co/tj98hrD6OI pic.twitter.com/6qtbSesKKp

— Ki Young Ju (@ki_young_ju) May 19, 2022

Read Also: Analyst: Bitcoin Just Flashed a Signal That Has Historically Marked the Bottom of Previous Bear Markets

CryptoQuant CEO also provided the average entry price for each generation of Bitcoin investors since the emergence of the crypto asset by following the UTXO age bands metric which tracks the potential price level where long-term holders accumulated Bitcoin (BTC).

The analyst wrote, “OG’s Entry Price: 1st gen – $1.3 2nd gen – $653 3rd gen – $8,717 4th gen – $43,582 I’m the 3rd gen. Hang in there, 4th gen.”

#Bitcoin OG's Entry Price:

1st gen – $1.3
2nd gen – $653
3rd gen – $8,717
4th gen – $43,582

I'm the 3rd gen. Hang in there, 4th gen. pic.twitter.com/iWkEwFO4zV

— Ki Young Ju (@ki_young_ju) May 14, 2022

Institutional Investors Dominate, Retail Investors Leaving

Moreover, Ki Young Ju recently observed that institutional investors now dominate the Bitcoin trading, as retail investors leave the crypto market in numbers.

“Retail investors are leaving the crypto market. Not bad for accumulating Bitcoin with institutions, but still worried about overall volume, which is significantly decreased compared to last year.”

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The post CryptoQuant CEO Says One Metric Is Flashing Over 50% Crash for Bitcoin (BTC) Bulls appeared first on Times Tabloid.

In a series of his recent tweets, Ki Young Ju told his teeming Twitter followers that a total of 30,000 BTC worth over $1.21 billion were moved away from Coinbase on Friday.

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Ki Young Ju tweeted, “30k BTC flowed out from Coinbase today. Institutional buys might be the big narrative again because the Executive Order did not create any hurdle.”

30k $BTC flowed out from Coinbase today.

Institutional buys might be the big narrative again because the Executive Order did not create any hurdle.

h/t @burak_tamac

Live Chart https://t.co/3ZifmxFo1j pic.twitter.com/KjA7OpefMd

— Ki Young Ju 주기영 (@ki_young_ju) April 15, 2022

According to CryptoQuant CEO, the Bitcoin stash was possibly acquired by institutional investors in over-the-counter (OTC) deals:

“Some of the BTC flowed into the existing cold wallets, but it seems to be not that big. This kind of transaction seems to happen only when Coinbase decided to move a significant amount of BTC. It’s highly likely towards Coinbase Custody wallets for OTC deals from institutions.”

The CryptoQuant CEO also says that institutional investors might become more active in the market as the executive order signed by US President Joe Biden last month was largely supportive of the crypto industry:

“Institutional buys might be the big narrative again because the Executive Order did not create any hurdle.”

Read Also: Bitcoin (BTC) To Be Accepted By Walmart and McDonald’s Through Lightning Network

Ki Young Ju added that old Bitcoin whales could be behind the recent sell-side pressure while institutional investors are buying the dips:

“Bitcoin old whales in two weeks ago: $47,000 sounds expensive. Let’s dump it here. Institutions today: $40,000 sounds cheap. Let’s stack some $BTC. Speculative guess but this fight seems to create a broad range sideways.”

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The post $1.2 Billion Worth of Bitcoin Left Coinbase within a Day; CryptoQuant CEO Says Institutional Investors Are Becoming More Active appeared first on Times Tabloid.