cryptocurrency In a recent analysis, experts from analysis firm CryptoQuant predicted that there will be a potential bull market in 2024, and this time the market will be shaped under the leadership of institutional investors.
The data the company examines includes Exchange Deposits, Average Exchange Entry Metric, and Bitcoin price is included.
According to analysts, during the bull market in 2021, there was a noticeable increase in Exchange Deposits, while a below-average value was seen in Average Exchange Inflows. This strongly suggests that the previous bull market was largely driven by retail investors speculating on prices, with minimal activity from major institutions, according to CryptoQuant analysts.
The bear market in 2022 has seen a steady decline in the number of Exchange Deposits and a corresponding decline in retail investor interest. This downturn was most likely due to the collapse of numerous crypto companies and tokens.
Interestingly, in the second half of 2023, the Average Stock Inflow began to slowly rise despite the continued decline in Stock Exchange Deposits. This trend indicates that larger investors are starting to enter the market, engaging in higher volume activity, causing the Average Stock Exchange Entry to rise, according to analysts.
*This is not investment advice.
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