Analysts at cryptocurrency exchange Bitfinex have predicted that the current bitcoin bull market cycle could peak in the fourth quarter of 2024. "Historical data suggests that bitcoin typically reaches all-time highs (ATH) a few months after the halving event," Bitfinex analysts said. "Therefore, we predict that the market top could occur around the fourth quarter of 2024."
Analysts say that historically, Bitcoin has reached market tops when a particular ratio is above 3.2, indicating that there may be room for further growth before the digital asset peaks. Key metrics such as the market value to realized value (MVRV) ratio indicate the existence of a significant amount of unrealized profits, with the current MVRV value around 2.56. Historically, the Bitcoin market has peaked when the MVRV ratio exceeds 3.2.
Bitfinex: Bitcoin bull market could peak in the fourth quarter of 2024
2024-06-07 12:04:03
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