TechFlow news — Cryptoquant analyst Crypto Dan pointed out that the peak of a bull market depends on the influx of new investors.
An increase in the amount of Bitcoin held for less than six months indicates a surge in new investors. Historical data shows that Bitcoin reached its peak approximately 7–9 months after a significant influx of new investors. As of 2024, there has already been about three months of such new investor activity.
He stated that even conservatively speaking, we can expect the market has not yet peaked, and given the anticipated increased inflows into U.S. spot Bitcoin ETFs, further substantial growth in Bitcoin's price could be seen in 2024.
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