Ki Young Ju, CEO of Cryptoquant, predicts continued capitulation among Bitcoin (CRYPTO:BTC) miners, indicating a bearish market trend for the near future.

Currently, the daily average of mined BTC is significantly higher than needed to end capitulation, sitting at 72% compared to the yearly average.

Ju advises investors to prepare for a "boring" market over the next 2-3 months and to avoid taking excessive risks.

Despite current market headwinds, Ju remains bullish on Bitcoin's long-term prospects.

He also downplays concerns about the impact of Mt. Gox's 47,000 BTC movement, clarifying it was an internal transfer unlikely to affect the broader market.

Ju asserts that such transactions, even if sold OTC, won't significantly impact Bitcoin's price.