The post Bitcoin Year End Prediction : What’s in Store For BTC Price by December End appeared first on Coinpedia Fintech News
As Bitcoin tantalizingly approaches the $44,000 mark, the crypto world braces for an anticipated breakthrough, raising speculation about the asset’s potential surge past $45,000 by month’s end. This bullish momentum has stirred excitement in an ever-volatile market, where every fluctuation sets the stage for a captivating narrative.
Matrixport Accurately Predicted Bitcoin Price
2023 has been a rollercoaster for cryptocurrencies, particularly Bitcoin, as Matrixport’s prediction from February 2023, foreseeing a year-end price of $45,000, seems closer to reality with each passing day. Markus Thielen, Matrixport’s head of research, dissected Bitcoin’s journey throughout the year, dividing it into five distinct phases, each shaped by macroeconomic factors and crowd psychology.
Despite Ether’s commendable 99% climb, Bitcoin’s staggering 164% surge has taken center stage. Thielen attributes this phenomenon to the tumultuous events of 2022 and early 2023 in the crypto space. Issues surrounding crypto lending platforms and banking infrastructure reshaped retail investors’ preferences, redirecting their focus towards the stability of Bitcoin over the riskier altcoins.
Catalyst of BTC Rise
Matrixport’s take on the crypto rally points to several factors: big money pouring in—over $7 billion—in stablecoins like USDT and USDC from institutional sources, the Federal Reserve signaling a milder stance on rate hikes, increased activity among miners, the resolution of regulatory issues around Binance, and growing hopes for an SEC-approved Bitcoin ETF in early 2024.
Additionally, Robinhood’s launch of commission-free crypto trading in the EU further contributes to the bullish sentiment for Bitcoin. All these pieces seem to be reigniting the bullish excitement in the crypto space amidst better economic conditions and worries about inflation.
BTC Next Halt: Analyst Points the Odds of 50K
This rally, resulting in significant gains for BTC holders, has seen a 23% increase in the last month and 15% in the past week alone. Analysts, including CredibleCrypto, predict BTC targeting the $50,000 mark by the third week of December. With increased Bitcoin spot bids and positive market sentiment, whether or not BTC drops to $42,000, the overall trajectory seems poised for the $50,000 milestone. Echoing similar views, Santiment analysts also predict that BTC might reach $50,000 this cycle.
Seems it’s a season of Bitcoin price prediction as $BTC surges to an 18-month high – Is $50,000 the next stop? Let’s wait and watch for this epic moment.
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