Matrixport: Bitcoin Will Reach $40,000
Main page Opinion, Bitcoin

According to Matrixport, Bitcoin will surpass $40,000 by the end of the year following the settlement of claims by US authorities against Binance and its former CEO, Changpeng Zhao.

These believe this will be a turning point for the crypto sector.

Last November 21, the world's largest crypto exchange agreed to pay $4.3 billion to FinCEN and OFAC. Changpeng Zhao resigned as CEO of the platform and posted a $175 million bail to stay out of prison.

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Experts believe the fine could be as high as $10 billion and the platform could face charges of misappropriating user funds or market manipulation.

These believe that, despite everything, Binance will remain one of the largest cryptocurrency exchanges for the next two to three years.

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Bitcoin fell after the news broke, but recovered to $36,000 soon after, confirming a strong trend in which a rise above $40,000 seems "inevitable," the company's experts have said.

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