Bitcoin

Coin

<ul> 
 <li>Bitfinex predicts a booming crypto year in 2024, with a potential market valuation as high as $3.2 trillion.</li> 
 <li>However, Bitfinex highlighted that the trajectory toward the multi-trillion dollar valuation is not straight.</li> 
 <li>Bitcoin is expected to lead the charge, driven by a shift in sentiment from fear to greed and the influx of institutional investors.</li> 
</ul> 
Bitfinex has published a&nbsp; new <a href="https://blog.bitfinex.com/wp-content/uploads/2023/12/Bitfinex-Alpha-85.pdf" target="_blank" rel="nofollow">forecast</a>, arguing that the overall crypto market could clock a $3.2 trillion valuation next year. A significant factor contributing to this projection was the shifting sentiment about the future of <a href="https://coinedition.com/bitcoin-40-48k-in-view-as-nupl-heads-to-orange-in-four-to-six-weeks/">Bitcoin</a>. 
Bitfinex analyzed various metrics and indicators, noting that assessing their performance at comparable stages in the crypto market cycle proves insightful. It discovered that public sentiment towards crypto has moved from extreme fear to greed. The trading platform argued a significant likelihood of an extended period in the “extreme greed” sentiment into 2024.&nbsp; 
Also, Bitfinex mentioned that the bullish sentiment is expected to coincide with the emergence of new highs for Bitcoin. Bitcoin currently trades at $42,700, a 38.2% decline from the peak of $68,789.63. 
Moreover, t…
The post <a href="https://coinedition.com/bitfinex-forecasts-3-2tn-crypto-market-valuation-amid-extreme-greed/">Bitfinex Forecasts $3.2TN Crypto Market Valuation Amid “Extreme Greed”</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Bitfinex Forecasts $3.2TN Crypto Market Valuation Amid “Extreme Greed”

Coin Edition

Other articles published on Dec 29, 2023

US SEC claims victory in Do Kwon, TerraUSD Securities case

Klaytn Price Analysis: Will KLAY Skip Consolidation in Jan 2024?

Google Explores AI-Generated Message Summaries for Android Auto

Blockchain Analysts are Accumulating This Lesser-Known AI Crypto Before 2024 – Here’s Why

TRON To Revolutionize Crypto Payments In Emerging Markets: Report

Ripple sets clear timeline for halting XRP escrow sales

Join our free newsletter for daily crypto updates!