- Matrixport, a Chinese cryptocurrency company founded by billionaire Jihan Wu, has made short, medium, and long-term price predictions for Bitcoin.
- According to Matrixport’s research report, Bitcoin is expected to reach $125,000 in the next 18 months, representing a 310% increase in value.
- The report also suggests that the recent breakthrough of the $31,000 level indicates the end of the bear market and predicts a similar price rally to previous years.
Meta Excerpt: Matrixport, a leading cryptocurrency company, has released a research report predicting that Bitcoin will reach $125,000 in the next 18 months, based on historical data and recent market trends. This forecast comes after Bitcoin broke through the $31,000 level, signaling the end of the bear market and potentially leading to a significant price rally.
Matrixport Predicts Bitcoin to Reach $125,000 in 18 Months
Matrixport, a prominent Chinese cryptocurrency company founded by billionaire Jihan Wu, has recently published a research report outlining its price predictions for Bitcoin in the short, medium, and long term. According to the report, Bitcoin is expected to experience a substantial increase in value, reaching $125,000 within the next 18 months. This projection is based on historical data and analysis of previous bull markets.
Breakthrough of $31,000 Level Signals End of Bear Market
The report highlights the significance of Bitcoin’s recent breakthrough of the $31,000 level, which is the highest level since June 2022. This breakthrough is seen as a strong indication that the bear market has come to an end. Drawing parallels with previous years, such as 2012, 2015, 2019, and 2020, the report suggests that Bitcoin is likely to follow a similar pattern of value appreciation, leading to a potential price rally.
Predicted Price Targets Based on Historical Rallies
Based on the average returns of previous rallies in 2015, 2019, and 2020, the report provides specific price targets for Bitcoin within different timeframes. Starting from June 22nd, 2023, the report predicts that Bitcoin could see a 10% increase within one month, a 23% increase within three months, a 105% increase within six months, a 123% increase within twelve months, and a remarkable 310% increase within eighteen months. The corresponding price targets are estimated to be $33,842, $37,882, $63,063, $113,841, and $125,731, respectively.
Matrixport Research Director Markus Thielen commented on the findings, stating, “Bitcoin reached a new annual high within the year on June 22nd, 2023. This signal has historically indicated the end of bear markets and the beginning of new cryptocurrency markets.”
Notable Exclusion of 2012 Bull Market
Thielen also mentioned that the average returns of the 2012 bull market were not included in the analysis due to their exaggerated nature. The report focuses on more recent rallies to provide a more accurate prediction of Bitcoin’s future performance.
As of the latest data from Coingecko, Bitcoin has experienced a 22% increase in value over the past 30 days and a 1.5% increase in the last 24 hours. Currently, it is trading at $31,128.
With these predictions and market trends, cryptocurrency enthusiasts and investors eagerly await the future of Bitcoin and the potential for significant returns.
