Bitfinex Analysts Give Date for Cryptocurrency Bull Top!
Analysts at crypto exchange Bitfinex pointed to the second quarter of 2024 for the peak of the cryptocurrency bull.
Bitfinex analysts talked about the cryptocurrency market in their note published on June 7. It was emphasized that especially the altcoin market could revive with the approval of Ethereum ETF.
Key metrics such as market capitalization to realized value (MVRV) ratio indicate significant unrealized profit, with the current MVRV value of approximately 2.56. Historically, bitcoin market peaks occur when the MVRV ratio exceeds 3.2. Investment in crypto assets may begin to take place, moving away from bitcoin and expanding into vehicles like upcoming ether ETFs and other altcoins
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