🐮 BULLRUN 2024 is different from previous increases, here's why:
🔹 According to CryptoQuant's prediction, the Crypto market is likely to have a strong growth period in 2024, led by institutional investors.
🔹 Signs that the market is about to increase in price:
- Decline in deposits on exchanges: According to CryptoQuant, the number of Bitcoin deposits on exchanges has been gradually decreasing since the beginning of 2023. This shows that investors are holding Bitcoin instead of selling it, here is a positive sign for the market.
- Increase in average cash inflow: Although the number of deposits decreased, the average value of each transaction increased. This shows that large investors are starting to participate in the market.
- Change in investor psychology: After a turbulent 2022, cryptocurrency investor psychology is gradually becoming more positive.
🔹 Reasons why institutional investors are interested in Bitcoin:
- Anti-inflation
- Scarcity
- Application potential
✅ Conclusion:
CryptoQuant predicts that Bitcoin and the cryptocurrency market will have a strong bull run in 2024. Institutional investors will play a key role in this bull run.
