According to Matrixport analysts, the fifth BTC bull market officially started last June 22, 2023 and its price could reach $125,000 in December 2024.
They have associated the start of a new uptrend with the update of the annual high reached last June 22.
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The company's experts have concluded that after this signal was triggered, the return on investment in Bitcoin averaged +310%. Based on these figures, analysts estimate the price could hit $125,000 by December next year.
According to them, the optimal entry point was 14-16 months before halving, in October 2022, when Bitcoin was trading at $17,000.
The company experts believe the price of the cryptocurrency will be driven by expectations of institutional adoption of Bitcoin and the instability of the US debt-to-GDP ratio.