Bitfinex Analyst: The market value of the crypto economy will reach 3.2 trillion US dollars
A Bitfinex analyst stated that amid historical pullbacks and market volatility, the potential market value of the crypto economy could increase to $3.2 trillion. The latest Bitfinex Alpha report suggests that the cryptocurrency fear and greed index has shifted towards "extreme greed," indicating Bitcoin is at a mid-term high in a bull market, suggesting an active stage in the market. Bitfinex researchers explained that institutional investors' growing interest in crypto assets (especially Bitcoin) is crucial. The much-anticipated spot Bitcoin ETF played a catalytic role, potentially diverting some funds into riskier crypto assets. Nevertheless, a Bitfinix strategist said that Bitcoin is expected to maintain its favored position in institutional portfolios, especially in the first half of 2024.
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
Data: Ethereum staking rate reaches 28.65%, Lido market share at 24.12%
Data: The current Crypto Fear & Greed Index is 29, indicating a state of fear.
Ethereum's net supply increased by 18,469 in the past 7 days