2024

Bitcoin

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Reserve

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/analysts-predict-bitcoins-2024-peak" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Bitcoin’s 2024 Peak</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-set-to-skyrocket-as-liquidity-squeeze-looms" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> are setting their sights on long-term gains, with the latest reports from Bitfinex analysts forecasting a significant market peak by the end of 2024. This early prediction contrasts with prior expectations of the peak occurring in the first or second quarters of 2025. The insights draw from historical trends, which suggest the peak generally follows a few months after a halving event.</p>
<h2 id="what-are-experts-saying">What Are Experts Saying?</h2>
<p style="text-align: justify">Bitfinex analysts highlight the relevance of historical <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a>, which shows Bitcoin typically hitting a new all-time high (ATH) shortly after the halving event. They project the market peak will likely occur in the fourth quarter of 2024. Their analysis incorporates fundamental metrics, including the market value to realized value (MVRV) ratio, currently around 2.56, with peaks historically occurring when this ratio surpasses 3.2.</p>
<h2 id="do-analysts-have-a-peak-price-in-mind">Do Analysts Have a Peak Price in Mind?</h2>
<p style="text-align: justify">Yes, they do. Many analysts concur on a six-figure peak price for Bitcoin, with Bitfinex experts forecasting a more conservative figure. They estimate a minimum peak target of $120,000 based on on-chain indicators and historical models. However, they also note that investment may shift from Bitcoin to emerging Ether ETFs and other altcoins as the market evolves.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<ul>
 <li>Bitfinex analysts predict a Bitcoin market peak by the end of 2024, earlier than previous forecasts for early 2025.</li>
 <li>Historical data and fundamental metrics, such as the MVRV ratio, support a significant peak, with the current MVRV value at approximately 2.56.</li>
 <li>Analysts expect Bitcoin to reach at least $120,000 during this cycle, indicating substantial growth potential.</li>
 <li>Investors might begin to move towards Ether ETFs and other altcoins, possibly impacting Bitcoin’s dominance.</li>
</ul>
<p style="text-align: justify">Bitcoin’s price was at $69,170 when this analysis was made, having previously touched $72,000 before declining due to upcoming Federal Reserve decisions and recent negative data. This trend also caused more significant losses in altcoins.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/analysts-predict-bitcoins-2024-peak" data-wpel-link="internal" rel="noopener noreferrer nofollow">Analysts Predict Bitcoin’s 2024 Peak</a></h5>

Analysts Predict Bitcoin’s 2024 Peak

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