The CryptoQuant founder shares a Bitcoin model suggesting its maximum price might be roughly $135,000. This estimation arises from a valuation approach known as the Realized Cap, where Bitcoin's last transacted price on the blockchain reflects its real value.
By using the Realized Cap, the model also derives a metric known as the Realized Price. Multipliers of this price, specifically 3.9x and 0.75x, denote Bitcoin's 'ceiling' and 'floor' prices respectively. Historical trends show Bitcoin often tops around 3.9x the Realized Price and bottoms near 0.75x.
At present, the ceiling price stands approximately at $135,741, whereas the floor price is around $26,104. Current Bitcoin prices significantly surpass the latter but remain below the former, hinting at room for potential growth.
This ceiling isn't fixed; it may rise with new capital inflows. As of now, Bitcoin is trading close to $90,000, suggesting the rally has paused but might continue upwards.
