According to the forecast of analysts at the Bitfinex cryptocurrency exchange, the peak of the bullish trend in the crypto market will occur in the fourth quarter of 2024. Experts expect the price of Bitcoin to reach $120,000 in October-December.

Bitfinex specialists refer to historical data: Bitcoin reaches an all-time high several months after the halving. Measures such as the market-to-realized value ratio (MVRV) indicate significant unrealized gains.

“Currently, the MVRV value is almost 2.56, and historically Bitcoin reaches its maximum price when this indicator exceeds 3.2,” explain Bitfinex analysts.

There are a large number of price targets for the first cryptocurrency, but so far they are too high, and it is premature to expect a sharp increase in the value of BTC. Analysts added: it is better to start investing in crypto assets with Bitcoin, and only then move on to altcoins or ETH-ETF shares.

Previously, Bitfinex specialists promised that soon after the Bitcoin halving on April 20, the demand for the digital asset would exceed supply five times. Reason: The daily issuance volume is showing a downward trend.