The CryptoQuant CEO has outlined how the fundamental indicators of the Bitcoin network could support a market cap that is three times larger than its current size. In a recent post, the CEO discussed how the Bitcoin network’s hashrate, which measures the computing power utilized by miners, could reveal the cryptocurrency’s potential for growth. As miners have to cover the costs of running their computing power, they often sell their block rewards, making the asset’s USD value a significant factor. By analyzing the hashrate to market cap ratio, the CEO determined that the network could sustain a price of $265,000 based on current fundamentals.
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Bitcoin Network Fundamentals Could Sustain $265,000 Price, CryptoQuant CEO Explains
