Matrixport Predicts Bitcoin Will Reach 45,000 Before End of the Year
According to analysts at Matrixport, if the price of the leading cryptocurrency breaks above $36,000, it could potentially reach $40,000 as a technical resistance level, and even possibly jump to $45,000 by the end of 2023.
There are six key factors identified that could contribute to this positive trend: 1. Approval of a Bitcoin ETF by the SEC in January 2024, with trading of the instrument starting in February or March; 2. The IPO of Circle, issuer of USDC, by April; 3. Potential restart of FTX by the court in December 2023, with actual resumption of work in May or June – experts predict that this platform could return to the top three in the industry within the next 12 months; 4. The halving of the Bitcoin network; 5. Implementation of EIP-4844 following the Dencun hard fork in the first quarter of the Ethereum blockchain; 6.
Potential easing from the Fed by mid-2024. The experts also suggest that there could be another surge in Bitcoin next week if upcoming data reveals a further decline in inflation.
Given the increasing number of buyers during US trading hours, experts believe that prices could rise towards the end of the month and year.
