LATEST: Matrixport Predicts Bitcoin’s Price Could Reach $125,000 by December 2024

Matrixport, a leading crypto trading firm, has forecasted that Bitcoin may soar to $125,000 during the ongoing bull market. The firm believes this fifth Bitcoin bull run began on June 22, 2023, driven by institutional interest. Previous bull markets were influenced by factors such as Bitcoin’s adoption as a payment mechanism, Chinese investors seeking an alternative to local currency, the rise of ICOs, and the NFT frenzy. Matrixport attributes the current institutional interest to the unsustainable U.S. debt-to-GDP ratio, expecting Bitcoin to peak at $45,000 by December 2023 and reach $125,000 by December 2024.

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