Cryptocurrency exchange Bitfinex pointed out in a report yesterday that the peak of this bull market may appear 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 looking at $120,000
What other potential positives are there?
As this bull market has developed, with the positive news of Bitcoin spot ETF listing and the fourth halving, 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 U.S. inflation rebounding, BTC briefly fell below $60,000, this week Bitcoin once again surpassed the $70,000 mark, and optimistic investors and institutions are expecting a return of a raging bull market soon.
Bitfinex: Peak of this bull market in Q4 this year
However, investors are also evaluating what stage of the bull market we are currently in.
Just yesterday, the cryptocurrency exchange Bitfinex stated in an analysis report that its analysts predict that Bitcoin is very likely to reach the peak of this bull market in the fourth quarter of this year:
Bitcoin looking at $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 cycle, in addition to Bitcoin, Ethereum spot ETFs, and Bitcoin halving, the market currently believes that the monetary easing policy (interest rate cut) that the Federal Reserve (Fed) may launch this year, as well as the U.S. election in November, will further boost the rise of the cryptocurrency market.
The market generally believes that the Fed may cut interest rates at least once this year. If there are two cuts, the earliest will be launched in September, when more funds will flow into the investment market after the Fed pours water.
In addition, former U.S. President Trump is competing with Biden for the next U.S. presidency. Currently, Trump has publicly stated multiple times that he will support cryptocurrencies and accept cryptocurrency campaign donations. This has led investors to believe that if Trump is elected U.S. president, it will change the current strict regulatory attitude towards cryptocurrencies in the U.S., potentially bringing a loose policy environment to the cryptocurrency market and boosting its rise.