Matrixport’s report signals a potential Bitcoin surge to $125,000 by 2024, fueled by the upcoming halving, historical trends, and macroeconomic dynamics. Explore the catalysts behind this projection and the positive correlation between halving events and bullish market conditions.
Amidst the looming Bitcoin halving, the crypto giant soared above $38.8k on December 1st, echoing May 2022 highs. Matrixport’s compelling report outlines a plausible trajectory for Bitcoin, targeting $125,000 by end-2024. Bolstered by historical data, the report notes a promising 123% growth in 2023, marking the beginning of a three-year bull market.
Highlighting the link between Bitcoin halving and market optimism, historical trends showcase significant surges post-halving: 186% (2012), 126% (2016), and nearly 300% (2020). Matrixport suggests that miners’ pre-halving Bitcoin accumulation, coupled with ensuing scarcity, could trigger a 200% price surge.
Reiterating its April 2024 prediction of $63,140, Matrixport factors in macroeconomic conditions. The platform anticipates crypto-friendly environments amid Federal Reserve interest rate cuts and a decline in inflation. This strategic monetary policy, paired with geopolitical nuances, is projected to be a potent catalyst propelling Bitcoin to unprecedented heights in 2024.