CryptoQuant CEO Projects Bitcoin Price Ceiling at $208,000 Based on Model
CryptoQuant CEO Ki Young Ju has shared a model predicting Bitcoin's potential rise to around $208,000. This prediction is based on CryptoQuant’s "Price Prediction Based on Realized Cap" dashboard, which includes:
- Spot price: $116,453
- Ceiling price: $208,310
- Floor price: $41,662
The model indicates that Bitcoin is above its floor and below the overvaluation zone. It uses realized cap, valuing the network by summing each coin at its last moved price rather than the current market price.
Ki attributes the bullish outlook to significant on-chain capital inflows and ETF-linked capital migration. He previously predicted Bitcoin could reach $112,000 in 2024 due to ETF inflows, with the actual peak close at $108,000.
His prediction is not absolute but suggests room for growth within the model's range. The spread between the ceiling and risk floor highlights potential variability in outcomes.
Market factors such as macro liquidity, ETF demand, corporate treasuries, and miners' supply behavior will influence whether Bitcoin approaches the $208,000 ceiling. As of now, Bitcoin trades at $116,173.
