The founder of on-chain analytics firm CryptoQuant has said Bitcoin could reach a target of $112,000 this year driven by the ETF inflows.
Bitcoin May Hit $112,000 Based On Inflows Into The ETFs
In a new post on X, CryptoQuant CEO and founder Ki Young Ju talked about the outlook of the cryptocurrency based on the inflows going towards the spot exchange-traded funds (ETFs).
The analyst has used the “Realized Cap” indicator to find price targets for the coin. The Realized Cap refers to a capitalization model for Bitcoin that calculates the total valuation of the asset by assuming that the real value of any coin in circulation is the price at which it was last transacted on the blockchain.
If the previous transaction of any token is assumed to have involved a change of hands for it (that is, buying and selling took place), then the last transfer price would correspond to the cost basis of the coin.
As the Realized Cap essentially adds up the cost basis of all the investors, one way to
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