Cryptocurrency exchange Bitfinex pointed out in a report yesterday that the peak of this bull market may occur around the fourth quarter of this year, when Bitcoin is expected to reach at least $120,000.
Bitfinex: Peak of this Bull Market in Q4 this year
Bitcoin is expected to reach $120,000
What other potential positives are there?
As this bull market has developed, with positive news such as the listing of Bitcoin spot ETF, the fourth halving completed, Bitcoin broke through multiple price barriers in mid-March, setting a new historical high of $73,000.
Although in April, with investors taking profits and US inflation rebounding, BTC briefly fell below $60,000. However, this week Bitcoin once again surpassed the $70,000 mark, and optimistic investors and institutions are anticipating the return of a raging bull market soon.
Bitfinex: Peak of this Bull Market in Q4 this year
However, investors are also evaluating at what stage of the bull market we are currently in.
Just yesterday, the cryptocurrency exchange Bitfinex pointed out in an analytical report that its analysts predict that Bitcoin is likely to reach the peak of this bull market in the fourth quarter of this year:
Bitcoin is expected to reach $120,000
In addition, Bitfinex analysts also predict that in this bull market, Bitcoin will reach at least $120,000:
What other potential positives are there?
In this current cycle, in addition to Bitcoin, Ethereum spot ETF, and Bitcoin halving, the market also believes that the loose monetary policy (rate cut) that the Federal Reserve (Fed) may initiate this year, as well as the November US election, will further boost the rise of the cryptocurrency market.
It is widely believed in the market that the Fed may cut rates at least once this year. If there are two rate cuts, the earliest will be in September, when more funds will flow into the investment market after the Fed eases.
Additionally, former US President Trump is competing with Biden for the next US presidency. Currently, Trump has publicly expressed support for cryptocurrencies, accepting campaign donations in cryptocurrencies. This leads investors to believe that if Trump is elected as President of the United States, it will change the current strict regulatory attitude towards cryptocurrencies in the US, potentially bringing a relaxed policy environment for the cryptocurrency market and boosting cryptocurrency prices.