Bitcoin Price Target of $200,000 by Year-End Supported by Research
Capriole Investments supports the possibility of Bitcoin reaching $200,000 by December based on new analysis from on-chain analyst ElonMoney. Key findings include:
- The MVRV Z-Score is currently above 2, indicating room for price growth without historical overheating.
- The Energy Value Oscillator suggests a fair value near $130,000, with potential to reach $150,000 by October.
- The Bitcoin Heater metric indicates derivatives activity is increasing but not yet at levels associated with market tops.
- The Macro Index Oscillator shows expansion, but not exhaustion, suggesting continued economic growth.
- Liquidity depth is positive but subdued compared to previous peaks, with current readings indicating cautious capital flow.
- The open interest to market capitalization ratio is under 3.5%, suggesting the market isn’t nearing a top yet.
ElonMoney outlines that if specific indicators show extreme values, a distribution phase could occur. Currently, Bitcoin trades at $109,559, requiring a nearly 90% increase to meet the $200,000 target by year-end.
