Bitcoin tops $40K for first time in 19 months, Matrixport eyes $125K in 2024

2 months ago

Bitcoin has deed a 19-month high, and Matrixport predicts it volition support climbing good into adjacent year.

Bitcoin tops $40K for archetypal  clip  successful  19 months, Matrixport eyes $125K successful  2024

Bitcoin (BTC) has reached the $40,000 level for the archetypal clip since April 2022, climbing astir 2% successful 24 hours.

Bitcoin surged from nether $39,500 to onslaught supra $40,000 connected Dec. 3, according to CoinGecko.

It besides marks a caller year-to-date precocious for Bitcoin, which is up implicit 140% since Jan. 1.

The terms of Bitcoin implicit the past 12 months, which has gone from nether $17,000. Source: CoinGecko

In a Nov. 30 note, Matrixport predicted that Bitcoin would deed implicit $60,000 by April adjacent twelvemonth and $125,000 by the extremity of 2024.

“The years erstwhile Bitcoin mining rewards were halved were mostly bullish,” Matrixport explained. Bitcoin is expected to again halve — erstwhile mining rewards are chopped by 50% — successful mid-April 2024.

"As miners tended to hoard Bitcoins earlier each halving, prices accrued by +200%, which would task Bitcoin reaching $125,000," Matrixport said.

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