One Catalyst Could Trigger Bitcoin Explosion to $1,000,000, Says CryptoQuant CEO

The CEO of crypto intelligence agency CryptoQuant identifies one catalyst that might ship Bitcoin (BTC) to a $1 million price ticket.

In a brand new thread on the social media platform X, Ki Younger Ju say that by the point the highest crypto asset by market cap reaches $1 million, it is going to have overtaken gold.

Based on Ju, the crypto king reaching 9 figures is inevitable as investor demand shifts from gold to BTC.

“In 2004, earlier than gold ETFs had been permitted, the market cap of gold was $1 trillion. Right this moment that’s $17.8 trillion. If we assume that the intrinsic worth of gold as a valuable steel is $1 trillion, roughly $16.8 trillion represents its demand as a secure haven and as a hedge towards inflation.

Bitcoin’s present market cap is $2 trillion, and it may enhance by 750% if gold demand shifts to BTC. Contemplating inflation, reaching $1 million is not about if it is going to occur – it is about when. Inside 5 years, folks will begin speaking about flipping gold.”

Ju continues remark that BTC has not but shaped a bubble, regardless of hitting the $100,000 mark for the primary time earlier this week.

“Recent capital fuels Bitcoin. Because the realized cap grew, the ceiling value rose from $129,000 to $146,000 in 30 days. At $102,000, it’s miles from a bubble; it might take a 43% enhance to achieve the edge usually thought of a bubble.”

Bitcoin is buying and selling at $99,069 on the time of writing, down 1.8% over the previous 24 hours.

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