Market News

Matrixport Stands Firm on Bullish $45K Bitcoin Year-End Forecast

45K, Bitcoin, Bullish, Firm, Forecast, Matrixport, Stands, YearEnd

“Matrixport’s unwavering confidence in its $45K Bitcoin year-end prediction reflects their deep understanding of the market dynamics and their ability to navigate the ever-evolving crypto landscape with precision and innovation.”



Cryptocurrency trading firm Matrixport, co-founded by Bitmain’s Wu Jihan, is standing by its prediction that Bitcoin (BTC) will reach $45,000 by the end of 2023. The company initially set this target at the beginning of the year and has reiterated it in a recent blog post titled “Bitcoin Targets $45,000 — FOMO Is Hitting the Market.” In the post, Matrixport highlights its successful past predictions and specifically mentions its report from September 2023, which accurately predicted significant Bitcoin market movements in October. The firm attributes the current excitement around Bitcoin to the possibility of a spot BTC exchange-traded fund (ETF) being approved. October has historically been a strong month for Bitcoin, with average returns of 20%. Bitcoin briefly reached $35,000 on October 24, hitting 17-month highs and triggering FOMO among investors. At the time of writing, Bitcoin is trading at $34,396, up 27% from its price on October 1. Matrixport believes that Bitcoin’s breakout above July’s $31,500 level indicates that $45,000 is achievable by the end of the year. The company’s analysis is based on a proven investment process that has been successful throughout the year. While Matrixport remains optimistic about Bitcoin’s potential, some analysts have predicted a less bullish outlook. In December 2022, Standard Chartered’s global research head and chief strategist forecasted that Bitcoin could drop to as low as $5,000 in 2023. However, Bitcoin’s lowest value so far this year has been around $16,600.

  • How Old Was King David When He Died? Exploring the Life and Legacy of the Biblical King

    How Old Was King David When He Died? Exploring the Life and Legacy of the Biblical King

    King David was a figure in ancient history known for his leadership and prowess in battle. But just how old was he when he passed away? Let’s delve into the life and legacy of this legendary ruler to uncover the answer. King David, a prominent figure in the Bible known for his leadership, military skills,…

  • Controversy unfolds as USC student’s graduation speech cancelled amidst Israel-Gaza tensions

    Controversy unfolds as USC student’s graduation speech cancelled amidst Israel-Gaza tensions

    A planned graduation speech by a USC student in Israel was abruptly cancelled amid escalating tensions in the Israel-Gaza conflict. The controversial decision has sparked a heated debate over free speech and political discourse on college campuses. Read on to learn more about this developing story. The University of Southern California (USC) has faced backlash…

  • Marriott’s European Expansion: 100 New Hotels, 12,000 Rooms by 2026

    Marriott’s European Expansion: 100 New Hotels, 12,000 Rooms by 2026

    Marriott International is set to expand its European portfolio by nearly 100 properties and over 12,000 rooms by 2026, focusing on hotel conversions and adaptive re-use projects. This ambitious expansion, representing over 40% of Marriott’s development projects in Europe, reflects the confidence of owners in the company. Marriott’s growth strategy in Europe is primarily through…

Leave a Comment

Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100 Qantas Reroutes Perth-London Flights Amid Middle East Tensions
Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100 Qantas Reroutes Perth-London Flights Amid Middle East Tensions
Snap Analyst Ratings: 12 Experts’ Viewpoints, Price Targets, and Performance Evaluations Dubai Floods and the Postponement of Token2049 Conference What Happens If You File Taxes After April 15? Iran-Israel Conflict Escalates, Threatens to Surge Oil Prices Above $100 Qantas Reroutes Perth-London Flights Amid Middle East Tensions