Analysts at crypto exchange Bitfinex have predicted that the current bitcoin bull market cycle may peak in the fourth quarter of 2024.
The analysts stated that bitcoin historically reaches its market top when a specific ratio goes above 3.2 — suggesting that there might be room for further growth before the digital asset hits a peak. Bitfinex analysts forecasted that during the current cycle, Bitcoin could reach at least $120,000. "Based on on-chain indicators and historical patterns, bitcoin is expected to reach a peak of at least $120,000 during this cycle."
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