Cryptoquant analyst: BTC reached its peak about 7-9 months after a large number of new investors poured in, and BTC still has a large increase

According to TechFlow, Cryptoquant analyst Crypto Dan pointed out that the peak of the bull market depends on the influx of new investors.

The increase in the number of people holding Bitcoin for less than 6 months means that new investors are pouring in. Past data shows that Bitcoin peaks about 7-9 months after a large influx of new investors. As of 2024, there has been an influx of new investors for about 3 months.

It said that even conservatively, we can expect that the market has not yet reached its peak, and since more inflows can now be expected into US spot Bitcoin ETFs, we can see further significant increases in Bitcoin in 2024.