[Bitcoin’s fifth bull market has begun, and analysts have announced their 2024 Bitcoin price targets! 】
Matrixport research analysts predict that Bitcoin price will reach $63,140 in April 2024 and $125,000 by the end of 2024. The optimistic forecast is based on analysis of past bear markets, such as those in 2014 and 2018, both of which were followed by three-year bull markets. They believe that after the bear market in 2022, Bitcoin will enter the fifth wave of three-year bull market, noting that 2023 is the first year of this bull market, as the Bitcoin price has risen by more than 123% so far in 2023 .
Based on historical data, Bitcoin halving years typically witness price increases, and analysts predict that Bitcoin could reach $125,000 by the end of 2024 if the trend repeats itself. Furthermore, based on current inflation models, they expect the general economic environment to be a strong headwind for Bitcoin and cryptocurrencies.
Regarding inflation and lower interest rates from the Federal Reserve, analysts expect inflation to fall further, spurring the Federal Reserve to potentially start cutting interest rates, which will push Bitcoin to new highs in 2024.
