Crypto News: Bitfinex Analysts Predict Bitcoin Bull Peak in Q4 2024
After the halving in April, investors have been closely monitoring the strong bull rally in Bitcoin, speculating about the peak price and date. The latest insights come from Bitfinex analysts, who suggest that Bitcoin’s current bull market cycle may reach its peak in the fourth quarter of 2024.
Drawing on historical data and the MVRV rate, a commonly used indicator for predicting BTC price, analysts predict that market peaks typically occur when the MVRV ratio surpasses 3.2. Based on this information, they estimate that Bitcoin could hit its all-time high a few months after the halving event, placing the market peak around Q4 2024.
While some predictions suggest that Bitcoin could skyrocket to over $120,000 during this cycle, the Bitfinex analysts caution against exaggerated expectations. They believe that investors might shift their focus to Ethereum ETFs and other emerging altcoins in the near future.
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