CryptoQuant: The Bitcoin bull run isn’t over yet
The CryptoQuant report shows that the Bitcoin bull market is not over yet, with investment inflows from new investors relatively low and price valuation indicators still below past market peaks. 48% of Bitcoin investment comes from short-term holders, a proportion that has reached levels similar to mid-2019. CryptoQuant analysts said that “bull markets typically end when new investors reach 84% to 92% of investment.” The market has still not reached the top zone, but is expected to enter a bull market. In addition, the upcoming Bitcoin halving event is seen as an important factor supporting Bitcoin prices. Standard Chartered predicts that Bitcoin prices could reach $150,000 in 2024 and hit a cycle top of $250,000 in 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Will APT’s price clear $0.87 after Aptos’s launch of Block-STM v2 upgrade?
Sui integrates Alibaba Cloud for AI payments, price eyes $1.40 target
Wall Street sets the midterm election price: Democratic Party factors surge 20%, but the market remains in a "blind zone"
The "Democratic Factor" built by JPMorgan has risen by about 20% since August, while the S&P 500 has only increased by 2.6% over the same period. Prediction platforms show that the probability of Democrats winning both chambers has surged from 23% in August to 64%. Historical data from Goldman Sachs indicates that this probability typically falls by about 5 percentage points on average before Election Day. There is a clear split among institutions: JPMorgan advocates buying on dips, while Bank of America warns that a Democratic sweep could lead to a drop of more than 10% in the stock market.
Crypto prices
More
