Bitfinex analysts say 2024 is a bullish year. In the event of historical corrections and market oscillations, the potential market capitalization of the crypto economy will increase to $3.2 trillion.
The latest Bitfinex Alpha report claims that the Cryptocurrency Fear and Greed Index has turned to “extreme greed,” indicating that Bitcoin is at mid-bull market highs and the market is in a dynamic phase.
Bitfinex researchers explain that the growing interest of institutional investors in crypto assets, especially Bitcoin, is crucial. The highly anticipated spot Bitcoin ETF has acted as a catalyst, potentially moving some funds into riskier crypto assets. Bitcoin is expected to maintain its favored status in institutional portfolios, especially in the first half of 2024, Bitfinex strategists said. (Bitcoin.com)