Cryptocurrency service provider Matrixport reiterated in a report released on Thursday (30th) that the price of Bitcoin is expected to reach $63,140 in April 2024 and $125,000 by the end of 2024.
The report briefly analyzed the cycles of the past two Bitcoin bull markets, showing that Bitcoin experienced three years of bull markets after a year of bear market in 2014 and 2018. If this trend continues, 2023 will be the first year of this bull market cycle and will last for three years.
Matrixport pointed out that the behavior of miners hoarding Bitcoin before the halving will lead to a subsequent rise in the price of Bitcoin. The report stated:
Matrixport also mentioned the impact of geopolitics, macroeconomics, and central bank monetary policies on Bitcoin.