Greed

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Bitfinex analysts have published a new answer about the state of the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>.</p>
 <p>The Bitfinex Alpha report contains a forecast for 2024. In it, experts remain optimistic about the prospects for Bitcoin (BTC) and other crypto assets in general. They estimate that the market capitalization of the cryptocurrency sector could increase to $3.2 trillion next year.</p>
 <blockquote class="wp-block-quote">
  <p>“Looking ahead to 2024, and contingent upon <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> conditions, we anticipate that the number of global <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency owners could escalate to between 850 and 950 million (from 575 million currently).”</p> <cite>Bitfinex Alpha report</cite>
 </blockquote>
 <p>Regarding the Crypto Fear and Greed Index, experts predict “extreme greed” sentiment in 2024, which will correlate with new BTC highs in the middle of the bull market.</p>
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   <img decoding="async" width="1024" height="567" src="https://cdn.thebittimes.com/images/2023/12/22/a4081791059ceec921df3e2e61fee6e8.webp" alt="Bitfinex expects crypto market cap to double in 2024 - 1"> 
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   Source: Glassnode
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 <p>Additionally, as institutional investors increase their exposure to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets, catalyzed by the long-awaited spot Bitcoin ETF, there could be some capital shift into higher-risk <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets next year.</p>
 <blockquote class="wp-block-quote">
  <p>“In the shorter-term, it is instructive to look at the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> value of bitcoin about its realized value: the MVRV [(<a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>-value-to-realized-value)] metric. “</p> <cite>Bitfinex Alpha report</cite>
 </blockquote>
 <p>In general, analysts believe that the cryptocurrency market is now in a “healthy” state. This means there will be ample room for Bitcoin prices to rise further, with limited expected selling by miners.</p>
 <p>Previously, Matrixport analysts said that if spot Bitcoin ETFs are approved in early January, the price of the first cryptocurrency will rise to $50,000 by the end of the month.</p>
 <p>Experts also recalled their forecast of reaching $45,000 by the end of the year. Historically, the price of Bitcoin often rose between Christmas and New Year – in 2020 it increased by 22% during these days.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitfinex-expects-crypto-market-cap-to-double-in-2024-tbt74512.html">https://thebittimes.com/bitfinex-expects-crypto-market-cap-to-double-in-2024-tbt74512.html</a></p>

Bitfinex expects crypto market cap to double in 2024

TheBitTimes

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