CryptoQuant CEO Ki Young Ju says #BitcoinCycleTheoryisDead. CryptoQuant CEO Ki Young Ju has become the latest to claim that Bitcoin’s four-year cycle theory no longer applies, after he began to follow the movements of institutional investors. In a tweet on Thursday, he said that Bitcoin cycles are now over, as new institutional activity highlights the market’s shift from previous stereotypes. His comments follow his admission a few months ago that he had incorrectly predicted Bitcoin’s peak. For context, Young Ju claimed in March that the Bitcoin bull cycle was over, noting that all indicators pointed to the beginning of a bear market. At the time, Bitcoin was hovering around $83,000, and the constant liquidation of whales exacerbated market sentiment. Bitcoin’s bull score fell to a multi-year low. In addition, the Bull-Bear Cycle (BBMC) indicator and the Market Value to Realized Value (MVRV) ratio both gave bearish signals, causing panic in the market at the time. Nonetheless, after retesting support in April, Bitcoin’s performance quickly improved, and BTC began to surge. By May, Bitcoin prices had broken through the January peak to hit an all-time high of $112,000. This month, Bitcoin prices briefly reached $123,000 before a pullback. This forced Young Ju to revisit his previous predictions and publicly admit that he was wrong. He pointed out that there was a new vitality in the cryptocurrency market as institutional investors poured in through several Bitcoin-focused investment vehicles. Yesterday, he reiterated his new bullish stance and again mentioned the changes in the cryptocurrency market landscape. He believes that the Bitcoin cycle theory has failed as institutional investors increasingly adopt Bitcoin. The CryptoQuant founder emphasized that what he called the "end of the bull cycle" was based on previous cyclical events. At that time, Bitcoin whales began to accumulate in the first year of the cycle. Three years later, when Bitcoin rebounded to a record high, they would sell their holdings to retail investors. They usually entered the market late. However, this pattern has changed. Now, institutional investors eager for Bitcoin are quickly accumulating the funds of old whales who took profits to ensure that the price is minimally affected. “The level of adoption among institutional investors is greater than we thought,” he noted.