Financial services firm Matrixport announced that the Bitcoin price could rise to $50,000 before the end of the year.
In the report written by Matrixport, “Although we expected a period of consolidation from December 8 to potentially the end of the year, we now think Bitcoin could breakout. “Bitcoin has historically risen progressively more than 3 percent from December 24 to December 31.” It was said.
Issuers who have applied to establish a spot Bitcoin exchange-traded fund in the USA recently appeared on national television about it. to advertise started. According to Matrixport, these ads will be released towards the end of the year. will increase further:
“This also means there is a high probability that Bitcoin will break out to the upside during the Christmas period, and if the Bitcoin spot ETF is approved by then, we expect Bitcoin to reach $50k.”
Many investors are already Linked to Bitcoin mining and cryptocurrencies Stating that it buys shares from companies, Matrixport said, Bitcoin price may exceed 50 thousand dollars by the end of January 2024 Wrote.
Shares of Bitcoin mining companies have gained more than 300 percent since the beginning of this year.