ChainCatcher news, Matrixport released a report predicting that the price of Bitcoin will reach $70,000 by the end of 2024, when the price was about $42,000. Although this forecast is considered conservative, it is already a sharp increase of +65% from the price at that 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 forecast is roughly accurate.

We believe that Bitcoin is expected 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, it is expected that his pro-business and skeptical policies of the Federal Reserve will provide a good environment for Bitcoin. Although Trump has criticized cryptocurrencies, his policy direction will be beneficial to the market development of Bitcoin.

Trump's previous term promoted economic growth through deregulation and tax policies, and these policy trends are extremely favorable to the Bitcoin and crypto asset markets. Therefore, we believe that the $70,000 target may underestimate the market potential. Recently, as the probability of Trump's victory increased, the price of Bitcoin rose rapidly by 8%, and it is expected to rise further in the future.