Matrixport reports predict a target price of $70,000 for Bitcoin by the end of 2024

2024-02-02 12:58:52

Collection

ChainCatcher news, Matrixport released the latest research report stating that in January 2024, the positive return rate of Bitcoin is +1.1%. According to the regression model, Bitcoin is expected to rise by 65% for the remainder of this year, potentially climbing to $70,000.

Matrixport previously pointed out that Bitcoin prices are significantly influenced by changes in interest rate expectations. Given that the Federal Reserve may cut rates in 2024, Bitcoin prices are expected to rise.

According to the report from Matrix on Target dated October 28, 2022, the ideal buying time is 14-15 months before the halving, as Bitcoin typically enters a bear market 6 to 12 months after the halving. Although halvings occur every four years, the cycle is about 3.5 years, and the peak of the fifth bull market is expected to occur in 2025.

Related tags

Matrixport Bitcoin price

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.