According to analysts at CryptoQuant, Bitcoin is expected to exceed $50,000 in early 2024. They noted that almost 90% of Bitcoin's circulating supply is currently in profit. However, experts also warn about possible corrections.
Bitcoin price could rise to between $50,000 and $53,000 in early 2024. This was reported by The Block with reference to a CryptoQuant report.
“The analysts’ forecast is based on an analysis of user activity, taking into account factors such as market capitalization and transaction volume,” the statement said.
CryptoQuant emphasized that the profitable supply of Bitcoin exceeds 88%, so selling pressure may increase. Analysts also warned of possible short-term corrections.
Note that at the time of writing, the first cryptocurrency is trading near $43,300:
We previously reported that Matrixport platform experts predicted an increase in the price of Bitcoin to $63,000 in the spring of 2024.
