According to ChainCatcher, Matrixport released a report saying that in early February 2024, (Matrix on Target) predicted that the price of Bitcoin would reach US$70,000 by the end of the year. At that time, the price of Bitcoin was about US$42,000.
Although some consider this prediction conservative, it is a significant increase of +65% from the price at the time. As of now, the price of Bitcoin fluctuates below $70,000, showing that there are still challenges to overcome to break through this psychological barrier, but the overall prediction is roughly accurate.
We believe that Bitcoin has the potential to break through the $70,000 mark, especially driven by the political situation in the United States. If Trump is re-elected as president in 2025, his support for business and skepticism of the Federal Reserve's policies are expected to provide a good environment for Bitcoin.
Trump's last term boosted economic growth through deregulation and tax policies, which are extremely favorable to Bitcoin and the crypto asset market. Therefore, we believe that the $70,000 target may underestimate the market potential. Recently, as Trump's chances of winning the election increased, Bitcoin prices rose rapidly by 8%, and there is hope for further gains in the future.
