Matrixport expects BTC to surge to $50k in January
Matrixport analysts expect an “explosive Bitcoin surge to $50,000” in January. Experts shared this forecast in a Jan. 2 blog post stating that they believe that Bitcoin (BTC) is poised for a breakout early in the year after consolidation in mid-to-late December. Analysts recalled that a year ago the market was bearish, but the situation now looks markedly different: “We expect an immediate rally that once again catches investors off-guard.” Matrixport analysts Source: Matrixport With the possibility of spot Bitcoin ETFs being approved in early January, the likelihood that the price of BTC will rise significantly is expect ed by the authors of the report. However, it is unlikely that this will be a news sell event, as an approval will legitimize Bitcoin as an asset class for institutional portfolios that can be used as collateral to purchase other assets, Matrixport said. Another reason for the growth of BTC is the approaching halving. Experts recalled that the average ...