Matrixport predicts that Bitcoin could achieve a trading price of $ 125,000 by the end of 2024.

Matrixport predicts that Bitcoin could achieve a trading price of $ 125,000 by the end of 2024.

Matrixport, provider of cryptocurrency services, forecast an astonishing price for Bitcoin ($ BTC) by the end of 2024. The company assumes that a Bitcoin could then be worth up to $ 125,000.

Matrixport was one of the few companies that said a positive attitude towards Bitcoin last year. The current prediction is based on historical data that show a pattern: After a bear market ends, a robust bull market often follows that lasts for several months

The end of the end of a bear market takes place according to Matrixport when the price has reached a 12-month high for the first time in at least one year. Bitcoin has recently exceeded the $ 31,000 mark and has reached its highest level since June 2022. This event is an important trigger for the current upswing of the market. In the past, similar triggers in August 2012, December 2015, May 2019 and August 2020 have led to considerable price increases.

Markus Thielen, Head of Research and Strategy at Matrixport, told Coindesk that Bitcoin's one -year high has signaled the end of bear markets and the beginning of new bull markets. Based on historical data, Bitcoin prices could increase by +123 % within twelve months and by +310 % within eighteen months. Thielen predicts that Bitcoin's price could reach $ 65,500 in the next twelve months and $ 125,700 in the next eighteen months.

Thielen does not take into account the 2012 signal, which led to a price increase of 5,285 % in 2013. He sees this increase as a "epic, disproportionate" bull market and therefore considers it a possible anomaly that does not indicate future trends.

In another development, Larry Fink, Chairman and Chief Executive Officer from Blackrock, the world's largest asset manager, recently expressed his conviction that the role of Bitcoin is in the "digitization of gold".

predictions and forecasts play an important role in influencing investment mood on the cryptocurrency market. However, it is important to look at such predictions with caution, since they are based on historical data and patterns that may not be repeated in the future. The cryptocurrency market is extremely volatile and is subject to various factors such as the market mood, regulatory developments and technological advances.

Investors should carry out extensive research, obtain expert council and show a healthy judgment if they make investment decisions in the crypto sector. Although Matrixport's forecast that Bitcoin could achieve $ 125,000 by the end of 2024, enthusiasm among enthusiasts, one should keep in mind that the cryptocurrency market is unpredictable and the actual results can deviate from the predicted.