{"id":24234,"date":"2023-10-27T18:57:32","date_gmt":"2023-10-27T18:57:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-to-hit-125k-by-end-of-next-year-matrixport\/"},"modified":"2023-10-27T18:57:32","modified_gmt":"2023-10-27T18:57:32","slug":"bitcoin-price-to-hit-125k-by-end-of-next-year-matrixport","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-price-to-hit-125k-by-end-of-next-year-matrixport\/","title":{"rendered":"Bitcoin price to hit $125k by end of next year: Matrixport"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1698428957363-29944189-844e-4238-8f10-fd6ee94cc5c8-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1698428957363-29944189-844e-4238-8f10-fd6ee94cc5c8-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1698428957363-29944189-844e-4238-8f10-fd6ee94cc5c8-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/10\/1698428957363-29944189-844e-4238-8f10-fd6ee94cc5c8-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin (BTC) could rally to a high of $125k in late 2024 amid institutional adoption, Matrixport said in report.<\/li>\n<li dir=\"ltr\">The crypto services provider\u2019s Bitcoin price prediction comes amid BTC\u2019s surge to $35k.<\/li>\n<li dir=\"ltr\">Spot Bitcoin ETF approval could be one of the catalysts of the bull market.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a>\u2019s jump to above $35,000 this week came amid the crypto market\u2019s latest <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin-etf\/\">spot Bitcoin ETF<\/a> anticipation. This has the flagship cryptocurrecy looking at potentially printing the first consecutive weekly green candle since late July\/early August when it went on to hit lows of $24,900 in September.<\/p>\n<p dir=\"ltr\">BTC has notably retreated from the $35k level and is battling to strengthen above $33.5k as of Friday afternoon, October 27.<\/p>\n<h2 dir=\"ltr\">What could drive Bitcoin price to $125k?<\/h2>\n<p dir=\"ltr\">While some analysts say the crypto could look to <a href=\"https:\/\/coinjournal.net\/news\/bitcoin-hints-at-sell-signal-after-hitting-3-month-high\/\">retest key support levels<\/a>, crypto services platform Matrixport says in a new Bitcoin price prediction that the benchmark cryptocurrency could soar to $125,000 by the end of next year.<\/p>\n<p dir=\"ltr\">The platform said in its latest <a href=\"https:\/\/www.matrixport.com\/institutions\/research\/matrix-on-target\/745\" rel=\"noopener noreferrer\" target=\"_blank\">research report<\/a> that with Bitcoin in its fifth bull market, soaring institutional interest and potential price catalysts such as spot ETF could prove key to price gains.<\/p>\n<p dir=\"ltr\">\u201c<em>Bitcoin\u2019s 5th BullMarket is underway, defined by institutional interest and a soaring price trajectory. This cycle began on June 22, 2023, with a new one-year high, historically leading to impressive returns. The target? $125,000 by December 2024<\/em>,\u201d the firm highlighted in a <a href=\"https:\/\/twitter.com\/realMatrixport\/status\/1717810748519600530\" rel=\"noopener noreferrer\" target=\"_blank\">post<\/a> on X.<\/p>\n<p dir=\"ltr\">The bullish perspective is down to Bitcoin\u2019s growth as an asset class, with investors now looking at the cryptocurrency much more like they view traditional safe-haven assets like Gold and Treasury bonds. Institutional investors are buying Bitcoin as part of diversifying their portfolios.<\/p>\n<p dir=\"ltr\">BTC at current prices could therefore end up being a huge bargain given the expected influx of institutional money. For investors likely to think of a better entry point, Matrixport analysts say that price was $17k.<\/p>\n<p dir=\"ltr\">\u201c<em>Our analysis indicates that the optimal entry point was in October 2022, when Bitcoin traded at just $17,000. The narrative is now centered around institutional adoption and asset diversification<\/em>,\u201d they added.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-to-hit-125k-by-end-of-2024-matrixport\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin (BTC) could rally to a high of $125k in late 2024 amid institutional adoption, Matrixport said in report. The crypto services provider\u2019s Bitcoin price prediction comes amid BTC\u2019s surge to $35k. Spot Bitcoin ETF approval could be one of the catalysts of [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":24235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24234"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24234"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24235"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}