Bitcoin ETF

COIN

Bitcoin

April

Bitcoin bulls held strongly above key support levels to lift BTC price above $38,000. The market sentiment is bullish amid several factors including spot Bitcoin ETF, dovish US Federal Reserve, and <a href="https://coingape.com/glossary/bitcoin-halving-2/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin halving</a>, with bulls having the overall near-term technical advantage.
The crypto fear and greed index remains range-bound between 70-74, indicating bullish sentiment from retail and <a href="https://coingape.com/massive-institutional-buying-continues-of-btc-eth-xrp-sol-ada/" target="_blank" rel="noopener noreferrer nofollow">institutional investors</a>.
<h2 id="bitcoin-price-to-hit-60000-in-april">Bitcoin Price To Hit $60000 In April</h2>
Bitcoin’s bullish trajectory will reach $63,140 by April 2024, reported Matrixport on December 1. The firm expects a sustained 3-year bull market attributed to factors including historical trends, mining reward halving, and favorable geopolitical and macroeconomic factors.
Matrixport remains confident about <a href="https://coingape.com/bitcoin-to-hit-45k-in-2023-125k-by-2024-end-matrixport/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin hitting $125K</a> by December 2024 after the Bitcoin halving. The next bull market is driven by institutional adoption.
The Nov 22 “Matrix on Target” report said Bitcoin will surpass $38,000 by the end of November with an 80% probability, which follows a rally to $40,000 in December with a 90% probability. The massive trading volumes in the broader crypto market indicate buying by investors and whales amid spot Bitcoin ETF hype.
Fed’s preferred gauge to measure inflation <a href="https://coingape.com/us-pce-inflation-cools-to-3-how-btc-eth-and-xrp-are-responding/" target="_blank" rel="noopener noreferrer nofollow">Personal Consumption Expenditures</a> (PCE) Index cooled to 3% and the core PCE at 3.5%. This means the Fed is likely to remain dovish and cut rates soon.
Bloomberg also <a rel="noopener noreferrer nofollow" href="https://www.bloomberg.com/news/articles/2023-12-01/bitcoin-btc-brings-40-000-price-into-view-on-etf-fed-bets" target="_blank">reported</a> a high probability of BTC price hitting $40000 in December amid multiple positive factors including anticipated Fed rate cuts and spot Bitcoin ETF approval.
Also Read: <a title="Cathie Wood’s Ark Invest Sells $15 Mln Coinbase Shares As COIN Price Hit 52-Week High" href="https://coingape.com/cathie-woods-ark-invest-sells-15-mln-coinbase-coin-price/" target="_blank" rel="noopener noreferrer nofollow">Cathie Wood’s Ark Invest Sells $15 Mln Coinbase Shares As COIN Price Hit 52-Week High</a>
<h2 id="btc-price-rising-strongly">BTC Price Rising Strongly</h2>
<a href="https://coingape.com/price/bitcoin" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> currently trades at $38238, up 2% in the past 24 hours amid a massive rally. The 24-hour low and high are $37531 and $38346, respectively. However, the trading volume has decreased by 10% in the past 24 hours.
<a href="https://coingape.com/breaking-microstrategy-acquires-16130-btc-in-latest-bullish-move/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a> has bagged another 16,130 BTC for approximately $593.3 million at an average price of $36,785 per BTC. MicroStrategy’s chairman Michael Saylor commits to its Bitcoin strategy.
Crypto analysts still believe a pullback is pending ahead of a rally to $40,000. Traders eyeing a potential rally after Christmas, similar to last year.
Also Read: <a href="https://coingape.com/robert-kiyosaki-foresees-a-giant-market-collapse-advises-buying-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Here’s Why Robert Kiyosaki Advises Buying Bitcoin Amid A Potential Market Collapse</a>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/btc-price-to-hit-60000-before-bitcoin-halving-matrixport/">BTC Price To Hit $60000 Before Bitcoin Halving: Matrixport</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

BTC Price To Hit $60000 Before Bitcoin Halving: Matrixport

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