#Matrixport Predicts Bitcoin Will Reach $125,000 by End of 2024
Cryptocurrency financial services company Matrixport has released a new report forecasting that Bitcoin's price could reach $125,000 by the end of 2024.
Some key predictions from the report:
- Matrixport believes Bitcoin is still in the midst of a bull market cycle that will peak in #2024 before the next major bear market begins.
- The #report points to Bitcoin's scarcity and growing institutional adoption as major drivers of future price growth. Only 21 million Bitcoins will ever exist.
- $125,000 is Matrixport's median price forecast for end of 2024. "My сalculations based on this" most bullish prediction is Bitcoin reaching $216,000 by end of 2024.
- Matrixport analysts say inflation and geopolitical instability will also boost cryptocurrency adoption as #investors seek shelter from fiat currency devaluation.
- Key risks highlighted include new regulatory restrictions on crypto, security issues/hacks, and loss of interest from retail investors if prices stagnate.
- Matrixport emphasizes the long-term, high-risk, high-reward nature of #Bitcoin as an investment. Short-term volatility is expected even if long-term price trends are upward.$BTC
