The post Bitcoin Market Analysis: No Bubble Phase Yet, Potential Surge to $141,000, Says CryptoQuant CEO appeared on BitcoinEthereumNews.com.

On November 24th, Ki Young Ju, CEO of CryptoQuant, shared insights on Twitter regarding the current state of the Bitcoin market. He asserted that Bitcoin has not yet entered a bubble phase. When assessing the market through the lens of Realized Cap, the growth trajectory of market capitalization remains subdued when compared to the total on-chain inflows. Ju indicated that Bitcoin retains potential for further appreciation, suggesting a possible price target of $141,000. He elaborated that Realized Cap serves as a metric for evaluating market inflows, calculated by summing the value of all Bitcoins based on their most recent on-chain transaction. Historical trends indicate that during bull markets, market capitalization frequently surpasses Realized Cap, culminating in peaks attributed to heightened retail investor activity; conversely, during bearish conditions, it may fall beneath this benchmark. Source: https://en.coinotag.com/breakingnews/bitcoin-market-analysis-no-bubble-phase-yet-potential-surge-to-141000-says-cryptoquant-ceo/

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Filed under: News - @ November 24, 2024 4:08 am