Matrixport analysts acknowledged their February forecast of Bitcoin reaching $70,000 by the end of the year as “too conservative.” The price could break through this mark amid the US elections.
The company recalled the accuracy of previous estimates. In October 2022, the company's specialists predicted a rally in the first cryptocurrency with an exit to $63,000 by halving. The deviation from the target value was 1%.
Their forecast of a price of $45,000 by the end of 2023 also turned out to be correct - the difference from the actual rate was 2%.
In early February, analysts named $70,000 as the target for Bitcoin by 2025, which implied growth of about 65%. With digital gold approaching the psychological level by mid-October, Matrixport experts believe their forecast will come true. However, they pointed to a factor that could become an additional catalyst for the asset's rally.
Tampa's previous term was marked by business-friendly policies, deregulation initiatives, lower corporate taxes and skepticism of the Federal Reserve.
A similar approach, combined with the Republican leader's populist rhetoric regarding cryptocurrencies, could create a favorable environment for digital gold to grow during his re-election, analysts believe.
They noted that investors are similarly assessing the cryptocurrency's prospects under his presidency. The latest rise in the rate is largely due to the increased chances of Trump's victory.
Tampa's previous term was marked by business-friendly policies, deregulation initiatives, lower corporate taxes and skepticism of the Federal Reserve.
A similar approach, combined with the Republican leader's populist rhetoric regarding cryptocurrencies, could create a favorable environment for digital gold to grow during his re-election, analysts believe.
They noted that investors are similarly assessing the cryptocurrency's prospects under his presidency. The latest rise in the rate is largely due to the increased chances of Trump's victory.
Recall that Democratic candidate Kamala Harris also promised support for innovative technologies such as AI and digital assets.
According to BlackRock CEO Larry Fink, Bitcoin will continue to grow regardless of who takes the White House seat.
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