Matrixport report predicts Bitcoin price target of $70,000 by the end of 2024
Matrixport released its latest research report, which points out that in January 2024, Bitcoin's positive return rate is +1.1%. According to the regression model, it is expected that Bitcoin may rise by 65% for the rest of this year, and the price of Bitcoin may climb to $70,000. Matrixport previously pointed out that the price of Bitcoin is greatly affected by changes in interest rate expectations. Given that the Federal Reserve may cut interest rates in 2024, the price of Bitcoin is expected to rise. According to the report of Matrix on Target on October 28, 2022, the ideal time to buy is 14-15 months before the halving, because Bitcoin usually enters a bear market 6 to 12 months after the halving. Although the halving occurs once every four years, the cycle is about 3.5 years, and the peak of the fifth bull market is expected to occur in 2025.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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