BITCOIN Tops $40k for first time in 19months,
tips $125k in 2024.
Bitcoin has hit a19-month high and it will keep
climbing well into next year.
Bitcoin has reached the $40k level for the first
time since late April 2022,climbing around 2%
in 24 hours.
Bitcoin surged from under $39.500 to strike above $40k on Dec.3 to hit a 19-month high.
It also marks a new year-to-date high for bitcoin,which is up over 140% since Jan.1.
However,it's still down around 42%from its Nov.10.2021,all-time high of over $69k.
In Nov.30.note.,Matrixport research head Markus thielen predicted that Bitcoin would hit over $60k by April next year and $125k by the end of 2024.
Thielen said the last three crypton bear market saw a following three year bull cycle and an analysis suggested "another three years of this bull market,with 2023 being the first year"
"Historically,the years when Bitcoin mining reward were halved were generally bullish".Bitcoin is expected to again halve-when mining reward are cut by 50%-in mid-April 2024
Miners tended to hoard Bitcoin before each halving,prices increased by +200%,which would project Bitcoin reaching $125k.
