Cryptoquant CEO Ki Young Ju believes the current Bitcoin price surge will continue up to $141,000. Ju said it is too early to call Bitcoin’s recent rally a bubble because the market cap hasn’t increased significantly relative to cumulative on-chain capital inflows.
https://twitter.com/ki_young_ju/status/1860527794805178800
In a recent post on X, Ju compared the current Bitcoin price prediction based on the realized cap with those of the last two bull cycles, showing more bullish potential this time before the cryptocurrency fulfills its potential. Using charts reflecting Bitcoin’s ceiling and floor prices, the analyst revealed the remaining momentum before Bitcoin could reach the ceiling price. Meanwhile, Ju noted that Bitcoin’s realized price keeps increasing daily.
For context, the BTC realized price measures the total capital inflow into the Bitcoin market. Analysts measure this metric using tools and algorithms that sum the value of all Bitcoins at the price they last moved on-chain. Ju used historical comparisons to highlight how market caps tend to exceed the realized cap in bull markets.
According to the analyst, Bitcoin’s market cap tends to reach a peak with an influx of retail investors. However, when the trend reverses, with the market switching to bear mode, the market cap moves faster and drops below the realized cap.
Notably, Bitcoin surged recently with significant upward momentum, ignoring several pullback predictions by many crypto analysts. The flagship crypto reached a $99,800 all-time high without making any notable retracement since it began the post-election rally.
Ju’s prediction suggests BTC will continue to go higher without necessarily making a recognizable pullback. He highlights the reserved momentum behind the cryptocurrency’s upward movement and the tendency for the price surge to continue towards higher price levels. Bitcoin traded for $98,460 at the time of writing, reflecting a 1% rally in the early hours of the current daily trading session.
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