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CDS Crypto News CryptoQuant CEO Claims Bitcoin Price Could See 112K Dollars

Crypto News

CryptoQuant CEO Claims Bitcoin Price Could See 112K Dollars

Analysts commented that the Bitcoin price could see 112k dollars this month.

lectertodd12/02/20241 Mins read187

CryptoQuant CEO Claims Bitcoin Price Could See $112K

Crypto News – On-chain analytics firm CryptoQuant said on Sunday that Bitcoin prices may reach $112,000 this year if ETF-related inflows continue.

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CryptoQuant CEO Claims Bitcoin Price Could See 112K Dollars

CEO Ki Young Ju stated on X that the worst case for Bitcoin was at least $55,000, representing a gain of almost 15% over Monday’s pricing.

Bitcoin market has seen $9.5B in spot ETF inflows per month, potentially boosting the realized cap by $114B yearly. Even with $GBTC outflows, a $76B rise could elevate the realized cap from $451B to $527-565B.
Ki

Based on how inflows affected the market capitalization of bitcoin and a ratio that has historically shown whether prices were “undervalued” or “overvalued,” the targets were set.

Bitcoin Could Hit a Record High

According to Ki, a ratio that tracks the market capitalization of Bitcoin divided by realized capitalization may indicate that the price of Bitcoin peaked between $104,000 and $112,000. At those prices, the ratio would approach 3.9, which has historically indicated a peak in price.

Sources:coindesk

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Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

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