- As Bitcoin
approaches an enticing $44,000 level, the crypto world is shaken with expectations that the asset could surpass $45,000 by the end of this month. - The year 2023, especially for Bitcoin, has been a rollercoaster as Matrixport’s prediction of a year-end price of $45,000 by February 2023 inches closer to reality each passing day.
- The initiation of commission-free crypto trading by Robinhood in Europe contributes to optimism for Bitcoin.
Predictions for the Bitcoin price released by Matrixport also consider significant factors: What details are important for BTC?
Matrixport’s Predictions for Bitcoin Price
As Bitcoin approaches an enticing $44,000 level, the crypto world is shaken with expectations that the asset could surpass $45,000 by the end of this month. This bullish momentum creates excitement in the market where each fluctuation sets the stage for a compelling story.
The year 2023, especially for Bitcoin, has been a rollercoaster as Matrixport’s prediction of a year-end price of $45,000 by February 2023 inches closer to reality each passing day. Markus Thielen, the Head of Research at Matrixport, explained that Bitcoin’s year can be divided into five different stages, each shaped by macroeconomic factors and crowd psychology.
Despite Ether’s impressive 99% rise, Bitcoin’s striking 164% surge has drawn attention. Thielen attributes this to the upheaval in the crypto space at the beginning of 2022 and 2023. Issues related to crypto lending platforms and banking infrastructure shifted retail investors’ preferences, directing their focus towards Bitcoin’s stability rather than riskier altcoins.
Matrixport’s assessment of the crypto rally points to several factors: significant inflows of over $7 billion in stablecoins like USDT and USDC from institutional sources, the Federal Reserve signaling a more lenient approach to interest rate hikes, increased activity among miners, resolution of regulatory issues around Binance, and growing hopes for a Bitcoin ETF approved by the SEC in early 2024.
The launch of commission-free crypto trading by Robinhood in Europe contributes to optimism for Bitcoin. These elements reignite bullish excitement amid improved economic conditions and inflation concerns.
What’s Next for Bitcoin?
The bull rally translates to gains for BTC holders, with a noteworthy increase of 23% in the past month and an additional 15% rise in the last week. Analysts led by CredibleCrypto predict that BTC will hit $50,000 in the third week of December. Despite potential fluctuations up to $42,000, the path seems ready for the $50,000 milestone. Santiment analysts foresee a $50,000 target for BTC in this cycle.
In this period of Bitcoin predictions, BTC reaches the peak of the last 18 months. The big question now is: Is the next stop $50,000? While eagerly awaiting this moment, the crypto community’s expectations continue.
Source: https://en.coinotag.com/will-bitcoin-price-reach-50000-before-christmas-matrixport-predictions/