Bitcoin’s Current Ceiling Price Estimated at $135,000 According to Model
The founder of CryptoQuant has proposed a Bitcoin pricing model indicating a potential maximum price of approximately $135,000.
Bitcoin Model Based on Realized Cap
In a recent post on X, Ki Young Ju, CEO of CryptoQuant, discussed a BTC pricing model grounded in the Realized Cap. The "Realized Cap" is an on-chain valuation model that reflects the last transaction price of each Bitcoin as its current value.
This model sums the cost basis of all Bitcoins in circulation, representing the total investment made by holders. A derived metric, the Realized Price, is calculated by dividing the Realized Cap by the total circulating supply, indicating the average cost basis for investors.
Key multipliers of the Realized Price are 3.9x and 0.75x. The chart below illustrates these multipliers over Bitcoin's history:
According to Ju, the 3.9x multiplier signifies Bitcoin's "ceiling price," while the 0.75x multiplier indicates the "floor price." Historical trends show Bitcoin typically peaks at or slightly above the 3.9x multiplier and bottoms at or just under the 0.75x multiplier.
Currently, the ceiling price is estimated at $135,741, with the floor price at $26,104. Bitcoin's current trading price exceeds the floor but remains significantly below the ceiling, suggesting potential for growth based on historical patterns.
However, this ceiling price may fluctuate with new capital inflows, meaning the upper limit could change throughout the bull run.
BTC Price
Currently, Bitcoin's value is around $90,000, marking a pause in its recent rally.
