Matrixport: Bitcoin Will Fall to $36,000
This week started with a rise in Bitcoin prices, reaching $43,000 for the first time in two weeks. However, according to Matrixport, this surge is expected to be short-lived.
The cryptocurrency is predicted to drop back down to $36,000 in the near future. However, with the improving macroeconomic conditions, a new bullish phase is expected, and BTC will be able to recover all of its losses.
Last week, BTC hit its lowest point at $38,680, and another pullback could result in a significant decrease.
Matrixport even suggests the possibility of a drop to $36,739. Despite initial expectations, the interest of institutional investors in the spot crypto fund ETF was not as high as anticipated.
In December of last year, Matrixport analysts predicted that BTC could potentially reach $125,000 by the end of 2024.
The upcoming April halving is expected to have a positive impact on the attractiveness of the digital currency, resulting in a decrease in BTC production.
