CryptoQuant analysts noted that major players in the market are now actively involved in the process of buying the first cryptocurrency amid a decline in its value. According to experts, this anticipates future profits for institutional investors as the industry recovers by the end of 2024.
“The market has entered the second-largest institutional accumulation, and investor confidence is growing,” CryptoQuant said.
According to analysts, the current situation provides favorable opportunities for entering the industry, regardless of the current volatility. The cumulative activity of institutional investors can significantly affect the market as a whole, strengthening its stability and ensuring an upward trend in digital asset prices, experts are sure.
Earlier, CryptoQuant stated that the Bitcoin rally will resume in the third quarter of 2024. According to analysts, the growth of the first cryptocurrency will be due to a decrease in sales by miners.
Source: Bits
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