Crypto Blog
As Bitcoin hovers near the $35,000 mark, igniting a widespread surge in the crypto market, a new report hints at more gains in the offing for the flagship crypto asset.
Drawing upon this signal, Matrixport has projected that Bitcoin could potentially reach $125,000 by December 2024, more than six months after the halving.Matrixport had previously foreseen that October would be a strong month for Bitcoin, a prediction that, so far, has proven to be fairly accurate. The next target of $63,000 stands somewhere near mid-2024, paving the way for the $125,000 projection to come into play.“Bitcoin’s characteristics, which were traditionally associated with assets like Gold and other safe-haven investments such as Treasury bonds, have led institutions to consider Bitcoin for diversifying their asset allocation. It is not a coincidence that Bitcoin is surging at a time when the United States debt-to-GDP ratio is reaching unsustainable levels.
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