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.
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