2024

Bitcoin

April

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 <p class="is-style-lead">Matrixport analysts <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a> an “explosive Bitcoin <a rel="noopener noreferrer nofollow" title="surge" href="https://thebittimes.com/tag/surge.html">surge</a> to $50,000” in January.</p>
 <p>Experts shared this forecast in a Jan. 2 blog post stating that they believe that Bitcoin (BTC) is poised for a breakout early in the year after consolidation in mid-to-late December.</p>
 <p>Analysts recalled that a year ago the market was bearish, but the situation now looks markedly different:</p>
 <blockquote class="wp-block-quote">
  <p>“We <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a> an immediate rally that once again catches investors off-guard.”</p> <cite>Matrixport analysts </cite>
 </blockquote>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14233313">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2024/01/02/a6d7aaa12253c9b11e8cd3e4d287e343.webp.webp">
   <img decoding="async" width="1024" height="541" src="https://cdn.thebittimes.com/images/2024/01/02/a6d7aaa12253c9b11e8cd3e4d287e343.webp" alt="Matrixport expects BTC to surge to $50k in January - 1"> 
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  <figcaption class="wp-element-caption">
   Source: Matrixport
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 <p>With the possibility of spot Bitcoin ETFs being approved in early January, the likelihood that the price of BTC will rise significantly is <a rel="noopener noreferrer nofollow" title="expect" href="https://thebittimes.com/tag/expect.html">expect</a>ed by the authors of the report.</p>
 <p>However, it is unlikely that this will be a news sell event, as an approval will legitimize Bitcoin as an asset class for institutional portfolios that can be used as collateral to purchase other assets, Matrixport said.</p>
 <p>Another reason for the growth of BTC is the approaching halving. Experts recalled that the average profitability of Bitcoin in 2020, 2016, and 2012 was +192%. This could take Bitcoin to the $125,000 level, a number Matrixport set in July 2023 based on the “new yearly high” indicator.</p>
 <p>On Jan. 2, the price of BTC crossed the $45,000 level for the first time since April 2022. Over the past 24 hours, BTC has risen in price by almost 7%, trading at $45,250.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Bitwise forecasts Bitcoin at $80,000 in 2024
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/matrixport-expects-btc-to-surge-to-50k-in-january-tbt75319.html">https://thebittimes.com/matrixport-expects-btc-to-surge-to-50k-in-january-tbt75319.html</a></p>

Matrixport expects BTC to surge to $50k in January

TheBitTimes

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