Matrixport expects BTC to surge to $50,000 in January
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Matrixport analysts predict “an explosive surge in Bitcoin prices to $50,000” in January.
Experts shared this prediction on January 2 blog The post states that they believe Bitcoin (BTC) is on track to breakout early this year after consolidating in mid-to-late December.
Analysts recall that a year ago the market was bearish, but now things look markedly different:
“We expect an immediate rebound in stocks, which will once again catch investors off guard.”
Matrixport Analyst
With a spot Bitcoin ETF likely to be approved in early January, the report’s authors expect BTC prices to rise significantly.
However, Matrixport said this is unlikely to be a news sell-off event as the approval would legitimize Bitcoin as an asset class in institutional portfolios that can be used as collateral for purchases of other assets.
Another reason for BTC’s growth is the approaching halving. Experts recall that the average profitability of Bitcoin in 2020, 2016, and 2012 was +192%. This could take Bitcoin to the $125,000 level, a figure set by Matrixport in July 2023 based on the “yearly high” indicator.
On January 2, BTC price exceeded the $45,000 mark for the first time since April 2022. In the past 24 hours, BTC price has increased by nearly 7% and is trading at $45,250.
