Bitcoin has entered the 5th bull cycle, expected to reach 125,000 USD in December 2024 - Matrixport forecast !!!
Bitcoin (#BTC ) price 🪙 is forecast to rise to as high as $125,000 💵 by the end of 2024 🗓️, according to a note by cryptocurrency services provider Matrixport 🏢 issued on October 26 🗓️.
This forecast 📈 is based on the firm's belief that the market 📈 has entered the fifth phase of the Bitcoin bull cycle 📈, largely driven by "expectations 😄 of institutional adoption 👍".
Markus Thielen 👨‍💼, Head of Research 🔬 and Strategy 🧠 at Matrixport 🏢 said: "The properties of Bitcoin 🪙, have traditionally been associated with assets such as Gold 🥇 and other safe investments 🔒 like Treasury bonds 🏦, has led institutions 🏢 to consider Bitcoin 🪙 for asset allocation to diversify 📈 their portfolios."
The bull cycle 🔼 of BTC 🪙 started in June️⃣ when the number 1 asset first reached its highest level of the year 📈. Around this period, a number of traditional financial institutions 🏦 applied 📃 to establish a Bitcoin spot ETF #Bitcoinspot ETF with the US Securities and Exchange Commission (SEC) 🏛️, driving the price increase 🔼 of BTC 🪙. #btc   #SEC

#Binance's next launchpool will be a meme coin called $meme. The meme coin trend is about to come back again, so#memecoin#floki 🤣