CryptoQuant CEO: The Bitcoin market has not yet formed a bubble, the target price could reach $141,000

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Bitget2024/11/24 09:02

On November 24, CryptoQuant CEO Ki Young Ju posted on X stating that the Bitcoin market has not yet entered a bubble phase. From the perspective of realized capitalization (Realized Cap), compared to the cumulative inflow of funds on-chain, the increase in market value is not significant. Based on the current steady upward trend of realized cap, there is still room for Bitcoin prices to rise, with a target price reaching $141,000.

Ki Young Ju explained that realized cap measures the scale of market fund inflows by calculating the total value at which all Bitcoins were last transferred on-chain. Historical data shows that during bull markets, market values often exceed realized caps and peak when retail investors enter; while during bear markets, market values may fall below realized caps.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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