During the current bull market, the price of the first cryptocurrency will form a top at some point in the fourth quarter of 2024. Bitfinex came to this conclusion, writes The Block.
Experts noted the continued potential for further growth.
According to Bitfinex estimates, the first cryptocurrency is capable of reaching a level of at least $120,000. They based their forecast on on-chain metrics and patterns.
They called the higher estimates “inflated.” Experts noted the prospect of expanding interest in ETH-ETF and other altcoins.
In April, technical analyst and head of Factor LLC Peter Brandt estimated a 25% chance of the digital gold rate reaching a peak as part of the current uptrend. He then referred to the concept of “exponential decay.”
Later, the specialist predicted that by the fourth quarter of 2025, Bitcoin will rise in price to $130,000–150,000. This will happen if the price follows the trajectory of previous bull markets after halving.
Source: Cryptocurrency
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