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.
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