Current Bitcoin Hashrate Can Sustain $4.9 Trillion Cap, CryptoQuant CEO Reveals
Summary
The peak Bitcoin market cap, based on current hashrate, is estimated to be nearly $5 trillion, while its current market cap is approximately $1.9 trillion, indicating it is at 38% of this upper limit. The mining hashrate, which tracks the total computing power of Bitcoin miners, has been rising and reaching new all-time highs due to recent price rallies. The model shared by CryptoQuant's CEO adjusts for the block subsidy halving that occurs every four years, impacting miner revenue. Historical data shows abrupt drawdowns in 2016, 2020, and 2024 corresponding to Halving events. Bitcoin is currently trading at around $94,400, reflecting a 2% increase over the past week.
