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Bitcoin Price As BlackRock CEO Expects BTC Market Cap to Hit $50 Trillion

Published

2 months ago

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In BlackRock’s third-quarter earnings call with analysts on Friday, CEO Larry Fink mentioned that Bitcoin (BTC) could be as big as the $50 trillion housing market. This forecast from the executive of the world’s largest asset manager is likely to have an impact on Bitcoin price. 

Let’s explore how much BTC’s price could be worth if its market cap hits $50 trillion.

Bitcoin Price If BTC Hits $50 Trillion According to BlackRock CEO

Although Larry Fink did not mention that Bitcoin will be as big as the Housing Market, he implied it using the mortgage market as an analogy. Fink said that the mortgage market also started slow when BlackRock ventured into it. However, as the asset manager built better infrastructure, data, and analytics, the stalling market exploded. To end this, Fink added that digital assets like Bitcoin are also stalling in a similar fashion and could explode.

BTC’s current market cap is $1.3 trillion, and if it hits the same size as the US housing market, which is worth $50 trillion, Bitcoin’s price could explode.

A simple calculation shows that $50 trillion is 38.46 times more than the current market cap of Bitcoin. If such a valuation were to come true, the current BTC price of $65,000 needs to inflate to $2.5 million.

If the BlackRock CEO’s analogy comes to pass and BTC market cap explodes to $50 trillion then Bitcoin price would be worth $2.5 million. 

BTC price at $2.5 millionBTC price at $2.5 million
BTC price at $2.5 million

Expert Analysts Forecast BTC Price Crash

Experts are suggesting that Bitcoin price is set to correct after a massive run up to $67,200 in the past week. This outlook is similar to CoinGape’s Monday article that showcased how Open Interest (OI) ceiling could trigger a correction for Bitcoin.

Popular analyst CredibleCrypto posted to his X that the last three local tops for Bitcoin displayed similar signs. At or around a potential top spot volume starts to decline while perpetual volume rises. This signal indicates that the spot holders are booking profits while futures volume is on an uptrend. This shows that futures traders are bullish, which can be seen in an increased OI and spike in perpetual volume.

In CredibleCrypto’s words, ”spot [investors are] selling off at these highs into supply while perps keep trying to long with extremely high OI buildup”

BTC/USDT 15-minute chartBTC/USDT 15-minute chart
BTC/USDT 15-minute chart

CredibleCrypto also added, ”I was very vocally bearish at both of those local tops because of the data that I shared below, and we are seeing the same data present itself once more.”

Regardless, the long-term Bitcoin price prediction hints at a bullish outlook with BTC potentially reaching the six-digit territory.

Frequently Asked Questions (FAQs)

Larry Fink predicted that Bitcoin’s market cap could potentially hit $50 trillion, comparable to the US housing market.What did BlackRock CEO Larry Fink predict about Bitcoin’s market cap? A: Larry Fink predicted that Bitcoin’s market cap could potentially hit $50 trillion, comparable to the US housing market.

According to calculations, if Bitcoin’s market cap reaches $50 trillion, its price could increase to approximately $2.5 million.

Yes, some experts, including CredibleCrypto, predict a short-term price correction for Bitcoin due to declining volume and rising open interest.

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Akash Girimath

Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Magazine Pro

Exploring Six On-Chain Indicators to Understand the Bitcoin Market Cycle

Published

2 days ago

on

December 21, 2024

By


With Bitcoin now making six-figure territory feel normal and higher prices a seeming inevitability, the analysis of key on-chain data provides valuable insights into the underlying health of the market. By understanding these metrics, investors can better anticipate price movements and prepare for potential market peaks or even any upcoming retracements.

Terminal Price

The Terminal Price metric, which incorporates the Coin Days Destroyed (CDD) while factoring in Bitcoin’s supply, has historically been a reliable indicator for predicting Bitcoin cycle peaks. Coin Days Destroyed measures the velocity of coins being transferred, considering both the holding duration and the quantity of Bitcoin moved.

Figure 1: Bitcoin Terminal Price has surpassed $185,000.

View Live Chart 🔍

Currently, the terminal price has surpassed $185,000 and is likely to rise toward $200,000 as the cycle progresses. With Bitcoin already breaking $100,000, this suggests we may still have several months of positive price action ahead.

Puell Multiple

The Puell Multiple evaluates daily miner revenue (in USD) relative to its 365-day moving average. After the halving event, miners experienced a sharp drop in revenue, creating a period of consolidation.

Figure 2: Puell Multiple has climbed above 1.00.

View Live Chart 🔍

Now, the Puell Multiple has climbed back above 1, signaling a return to profitability for miners. Historically, surpassing this threshold has indicated the later stages of a bull cycle, often marked by exponential price rallies. A similar pattern was observed during all previous bull runs.

MVRV Z-Score

The MVRV Z-Score measures the market value relative to the realized value (average cost basis of Bitcoin holders). Standardized into a Z-Score to account for the asset’s volatility, it’s been highly accurate in identifying cycle peaks and bottoms.

Figure 3: MVRV-Z Score still considerably below where previous peaks have occurred.

View Live Chart 🔍

Currently, Bitcoin’s MVRV Z-Score remains below the overheated red zone with a value of around 3.00, signaling that there’s still room for growth. While diminishing peaks have been a trend in recent cycles, the Z-Score suggests that the market is far from reaching a euphoric top.

Active Address Sentiment

This metric tracks the 28-day percentage change in active network addresses alongside the price change over the same period. When price growth outpaces network activity, it suggests the market may be short-term overbought, as the positive price action may not be sustainable given network utilization.

Figure 4: AASI indicated overheated conditions above $100,000.

View Live Chart 🔍

Recent data shows a slight cooling after Bitcoin’s rapid climb from $50,000 to $100,000, indicating a healthy consolidation period. This pause is likely setting the stage for sustained long-term growth and does not indicate we should be medium to long-term bearish.

Spent Output Profit Ratio

The Spent Output Profit Ratio (SOPR) measures realized profits from Bitcoin transactions. Recent data shows an uptick in profit-taking, potentially indicating we are entering the latter stages of the cycle.

Figure 5: Large SOPR clusters of profit taking.

View Live Chart 🔍

One caveat to consider is the growing use of Bitcoin ETFs and derivative products. Investors may be shifting from self-custody to ETFs for ease of use and tax advantages, which could influence SOPR values.

Value Days Destroyed

Value Days Destroyed (VDD) Multiple expands on CDD by weighting larger, long-term holders. When this metric enters the overheated red zone, it often signals major price peaks as the market’s largest and most experienced participants begin cashing out.

Figure 6: VDD is warm but not too hot.

View Live Chart 🔍

While Bitcoin’s current VDD levels indicate a slightly overheated market, history suggests it could sustain this range for months before a peak. For example, in 2017, VDD indicated overbought conditions nearly a year before the cycle’s top.

Conclusion

Taken together, these metrics suggest that Bitcoin is entering the latter stages of its bull market. While some indicators point to short-term cooling or slight overextension, most highlight substantial remaining upside throughout 2025. Key resistance levels for this cycle may emerge between $150,000 and $200,000, with metrics like SOPR and VDD providing clearer signals as we approach the peak.

For a more in-depth look into this topic, check out a recent YouTube video here: What’s Happening On-chain: Bitcoin Update

Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.



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Analyst

Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000

Published

3 days ago

on

December 20, 2024

By



Este artículo también está disponible en español.

The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range. Crypto analyst Ali Martinez provided insights into why Bitcoin could be holding well within this range. 

Why The Bitcoin Price Is Holding Steady Between $96,000 And $98,000

In an X post, Ali Martinez noted that one of the most important support levels for the Bitcoin price is between $98,830 and $95,830, where 1.09 wallets bought over 1.16 million BTC. This explains why Bitcoin is holding steady between $96,000 and $98,000 as investors who bought between this level continue to provide huge support for the flagship crypto. 

As Martinez suggested, it is important for these holders to continue to hold steady as a wave of sell-offs could send the Bitcoin price tumbling even below $90,000. The flagship crypto dropped below $100,000 following the Federal Reserve Jerome Powell’s recent speech, in which he hinted at a hawkish stance from the US Central Bank. 

This sparked a massive wave of sell-offs, as a Hawkish Fed paints a bearish picture for risk assets like Bitcoin. However, despite the Bitcoin price drop below, most Bitcoin holders remain in profit, which is a positive for the flagship crypto. IntoTheBlock data shows that 86% of Bitcoin holders are in the money, 4% are out of the money, and 9% are at the money.

These Bitcoin holders still seem bullish on the leading crypto as they continue to accumulate more BTC. In an X post, Ali Martinez stated that so far in December, 74,052 BTC have been withdrawn from exchanges, and this trend doesn’t seem to be slowing down. 

Bitcoin priceS
Source: X

Traders Anticipate A Bullish Reversal 

Ali Martinez suggested that crypto traders anticipate a bullish reversal for the Bitcoin price from its current level. This came as he revealed that traders on Binance nailed the top, with 62.17% shorting Bitcoin while it was trading at $108,000. Now, Martinez stated that sentiment has flipped, with 55.44% of these trading now longing dips below $96,000. 

Bitcoin price 2
Source: X

Meanwhile, it is crucial for the Bitcoin price to hold this $96,000, as Martinez warned that if BTC loses this support, it could drop below $90,000. The analyst stated that based on the Fibonacci level, if Bitcoin loses $96,000, the next point of focus becomes $90,000 and $85,000. Meanwhile, from a bullish perspective, crypto analyst Justin Bennett suggested that the $110,000 target is still in focus for the Bitcoin price.  

Bitcoin price 3
Source: X

At the time of writing, the Bitcoin price is trading at around $97,000, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

Bitcoin price chart from Tradingview.com
BTC price drops to $93,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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Bitcoin Magazine Pro

Exploring Five On-Chain Indicators to Understand the Bitcoin Market Cycle

Published

3 days ago

on

December 20, 2024

By


With Bitcoin now making six-figure territory feel normal and higher prices a seeming inevitability, the analysis of key on-chain data provides valuable insights into the underlying health of the market. By understanding these metrics, investors can better anticipate price movements and prepare for potential market peaks or even any upcoming retracements.

Terminal Price

The Terminal Price metric, which incorporates the Coin Days Destroyed (CDD) while factoring in Bitcoin’s supply, has historically been a reliable indicator for predicting Bitcoin cycle peaks. Coin Days Destroyed measures the velocity of coins being transferred, considering both the holding duration and the quantity of Bitcoin moved.

Figure 1: Bitcoin Terminal Price has surpassed $185,000.

View Live Chart 🔍

Currently, the terminal price has surpassed $185,000 and is likely to rise toward $200,000 as the cycle progresses. With Bitcoin already breaking $100,000, this suggests we may still have several months of positive price action ahead.

Puell Multiple

The Puell Multiple evaluates daily miner revenue (in USD) relative to its 365-day moving average. After the halving event, miners experienced a sharp drop in revenue, creating a period of consolidation.

Figure 2: Puell Multiple has climbed above 1.00.

View Live Chart 🔍

Now, the Puell Multiple has climbed back above 1, signaling a return to profitability for miners. Historically, surpassing this threshold has indicated the later stages of a bull cycle, often marked by exponential price rallies. A similar pattern was observed during all previous bull runs.

MVRV Z-Score

The MVRV Z-Score measures the market value relative to the realized value (average cost basis of Bitcoin holders). Standardized into a Z-Score to account for the asset’s volatility, it’s been highly accurate in identifying cycle peaks and bottoms.

Figure 3: MVRV-Z Score still considerably below where previous peaks have occurred.

View Live Chart 🔍

Currently, Bitcoin’s MVRV Z-Score remains below the overheated red zone with a value of around 3.00, signaling that there’s still room for growth. While diminishing peaks have been a trend in recent cycles, the Z-Score suggests that the market is far from reaching a euphoric top.

Active Address Sentiment

This metric tracks the 28-day percentage change in active network addresses alongside the price change over the same period. When price growth outpaces network activity, it suggests the market may be short-term overbought, as the positive price action may not be sustainable given network utilization.

Figure 4: AASI indicated overheated conditions above $100,000.

View Live Chart 🔍

Recent data shows a slight cooling after Bitcoin’s rapid climb from $50,000 to $100,000, indicating a healthy consolidation period. This pause is likely setting the stage for sustained long-term growth and does not indicate we should be medium to long-term bearish.

Spent Output Profit Ratio

The Spent Output Profit Ratio (SOPR) measures realized profits from Bitcoin transactions. Recent data shows an uptick in profit-taking, potentially indicating we are entering the latter stages of the cycle.

Figure 5: Large SOPR clusters of profit taking.

View Live Chart 🔍

One caveat to consider is the growing use of Bitcoin ETFs and derivative products. Investors may be shifting from self-custody to ETFs for ease of use and tax advantages, which could influence SOPR values.

Value Days Destroyed

Value Days Destroyed (VDD) Multiple expands on CDD by weighting larger, long-term holders. When this metric enters the overheated red zone, it often signals major price peaks as the market’s largest and most experienced participants begin cashing out.

Figure 6: VDD is warm but not too hot.

View Live Chart 🔍

While Bitcoin’s current VDD levels indicate a slightly overheated market, history suggests it could sustain this range for months before a peak. For example, in 2017, VDD indicated overbought conditions nearly a year before the cycle’s top.

Conclusion

Taken together, these metrics suggest that Bitcoin is entering the latter stages of its bull market. While some indicators point to short-term cooling or slight overextension, most highlight substantial remaining upside throughout 2025. Key resistance levels for this cycle may emerge between $150,000 and $200,000, with metrics like SOPR and VDD providing clearer signals as we approach the peak.

For a more in-depth look into this topic, check out a recent YouTube video here: What’s Happening On-chain: Bitcoin Update

Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.



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