#The.Bitfinex Stock Exchange expects this sector to explode by 100% in 2024!
_#Bitcoin (BTC) has registered a 160% rise this year in 2023 while the broader cryptocurrency market is up 100% adding $800 billion to the wealth of cryptocurrency investors in 2023. Bitfinex expects the cryptocurrency market to continue to rise moving forward. While it expects another 100% gain after that in 2024. #Bitfinex expects the cryptocurrency market cap to reach $3.2 trillion via Bitfinex, a prominent #cryptocurrency.trading.platform . Expressed a positive outlook on Bitcoin and the broader crypto asset market as we enter 2024. Despite facing reputational and regulatory challenges throughout 2023. Bitcoin has shown remarkable resilience. The trading platform acknowledges the possibility of occasional pullbacks, which is common in historical market behavior. With the current total market value of the cryptocurrency market reaching approximately $1.6 trillion.
Bitfinex expects the total market cap to reach $3.2 trillion. With asset values fluctuating within this range. The evaluation takes into account different metrics and sentiment indicators. It draws parallels with similar points in previous market cycles. Bitfinex analysis includes expectations for an extended visit to the “extreme greed” sentiment zone in the Fear and Greed Cryptocurrency Index during 2024. This heightened sentiment is consistent with expectations of new highs for Bitcoin in the midst of a bull market cycle. Institutional Investors Prefer Bitcoin In a recent statement, Bitfinex delves into the evolving landscape of institutional investment in crypto assets. Focusing on the potential impact of the eagerly anticipated Spot Bitcoin ETF. The trading platform anticipates a potential shift of capital into higher-risk crypto assets in the coming year as institutional investors seek diversified exposure.
Despite this, Bitfinex predicts that institutional investment will mostly favor Bitcoin.
$BTC
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