Matrixport: Bitcoin Will Rise to $63,000 by April 2024
Main page Opinion, Bitcoin

According to analysts at Matrixport, the price of Bitcoin will rise to $63,140 in April 2024 and $125,000 by the end of the next calendar year.

For such estimates they have been based on the scenario of continuation of the fifth bull market, taking into account "geopolitical, monetary and macroeconomic factors".

According to the experts' calculations, the bear market of 2014, when the crypto fell by 58%, was followed by three years of bull market, while the bear market of 2018, when the asset lost 72% of its value, was followed by positive dynamics for the next three years.

Analysts expect, in anticipation of a repeat of the cyclical pattern after suffering a 65% drop in 2022, that the price of the crypto will rise in 2023-2025.

Moreover, these expect a 123% rise by the end of that year.

Before each halving of the rewards for a block found, miners usually accumulate coins, which caused the price to rise by 200%, analysts have said.

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