Ethereum

Value

Bitcoin

Bull Market

when

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitfinex’s analysts predict the peak of Bitcoin’s bull market may happen in Q4 2024.</li>
 <li>They also forecast that Bitcoin could reach at least $120,000 during the current cycle.</li>
</ul>
<p>Analysts from the crypto exchange Bitfinex suggest that the existing bull market cycle for <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> may culminate in the last quarter of 2024.</p>
<p>They base their predictions on historical data, which indicates that Bitcoin often hits a new all-time high several months post the halving event.</p>
<h2 id="market-value-to-realized-value-ratio">Market Value to Realized Value Ratio</h2>
<p>The analysts also noted that Bitcoin usually reaches its market top when a specific ratio, the market value to realized value (MVRV), exceeds 3.2.</p>
<p>The current MVRV value is approximately 2.56, suggesting there’s potential for further growth before Bitcoin reaches its peak.</p>
<h2 id="bitcoin-price-predictions">Bitcoin Price Predictions</h2>
<p>During the ongoing cycle, these analysts anticipate that Bitcoin could attain a value of at least $120,000.</p>
<p>Although there are several price targets suggesting Bitcoin could achieve a much higher value in this cycle, the analysts believe these predictions are overblown.</p>
<p>They also suggest that investments in crypto assets could diversify beyond Bitcoin, including upcoming <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a> ETFs and other altcoins.</p>
<p>At the time of reporting, Bitcoin, the world’s largest digital asset by market cap, had increased by approximately 0.5% in the last day and was trading for $71,295.</p>

Bitcoin Bull Market Peak Expected in Late 2024, Bitfinex Analysts Forecast

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