{"id":557729,"date":"2024-10-26T17:00:19","date_gmt":"2024-10-26T17:00:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=557729"},"modified":"2025-06-11T08:10:25","modified_gmt":"2025-06-11T08:10:25","slug":"bitcoin-price-surge-matrixport-forecasts-125000-price-target-by-december-2024","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-surge-matrixport-forecasts-125000-price-target-by-december-2024\/","title":{"rendered":"Bitcoin Price Surge: Matrixport Forecasts $125,000 Price Target By December 2024"},"content":{"rendered":"

Bitcoin price (BTC) is currently displaying a significant uptrend, showing no signs of slowing down. The cryptocurrency has already begun its<\/span> fifth bull run<\/span><\/a>, with impressive price targets anticipated in the coming year.\u00a0<\/span><\/p>\n

A recent <\/span>report <\/span><\/a>from Matrixport highlights BTC\u2019s history of four distinct bull market cycles, each driven by a unique narrative. However, the latest bull market, which started on June 22, 2023, stands out due to its primary driving force: <\/span>institutional adoption<\/span><\/a>.\u00a0<\/span><\/p>\n

Per the report, this surge in institutional interest can be attributed to Bitcoin’s characteristics, traditionally associated with safe-haven investments like Gold, as well as mounting concerns over the United States debt-to-GDP ratio. <\/span>Matrixport’s report predicts that Bitcoin’s price could reach an impressive $125,000 by December 2024.<\/span><\/p>\n

Bitcoin Price Rise Aligns With Mounting US Debt<\/span><\/h2>\n

Matrixport suggests its emergence as a new payment mechanism propelled the first Bitcoin bull market in 2011. The second cycle was driven by China, where Bitcoin gained recognition as an alternative form of money.\u00a0<\/span><\/p>\n

The rise of initial coin offerings (ICOs) marked the third cycle, providing a novel means of establishing and funding companies. The fourth cycle saw the decentralized finance (DeFi) summer and the<\/span> NFT craze<\/span><\/a> dominating the market.<\/span><\/p>\n

However, per the report, Bitcoin’s current bull market is driven by institutional adoption. Institutions are considering Bitcoin for diversifying their asset allocation due to its characteristics akin to <\/span>safe-haven investments<\/span><\/a>.\u00a0<\/span><\/p>\n

Related Reading: SHIB Will Lose Place To PEPE In New Bull Cycle, Analyst Makes The Case<\/a><\/div>\n

Notably, the surge in Bitcoin’s value coincides with the United States’ escalating debt-to-GDP ratio, making it an attractive choice for institutions seeking to hedge against potential economic instability.<\/span><\/p>\n

Based on historical price signals, Matrixport estimated that Bitcoin price could reach $125,000 by December 2024.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price forecast till December 2024. Source: Matrixport<\/a>.<\/figcaption><\/figure>\n

Interestingly, the report suggests that the onset of this bull market was officially recognized when BTC reached a new one-year high on June 22, 2023.\u00a0<\/span><\/p>\n

Furthermore, Matrixport advises that the optimal entry point to buy Bitcoin is ideally 14-16 months before the next halving event. The report suggested that the end of October 2022 was an opportune time to enter the market when Bitcoin traded at $17,000.<\/span><\/p>\n

Potential BTC Correction On The Horizon?<\/span><\/h2>\n

Despite the hype surrounding the current <\/span>uptrend experienced<\/span><\/a> by most cryptocurrencies on the market, crypto analyst “Crypto Soulz” presents a <\/span>contrasting view<\/span><\/a> on the future of Bitcoin price.<\/span><\/p>\n

In a recent analysis of X (formerly Twitter), the analyst provides several reasons for considering a short position on BTC. According to Crypto Soulz, the next significant resistance level is at $37,330, but Soulz doubts the possibility of retesting it in the current market conditions.\u00a0<\/span><\/p>\n

Related Reading: Still Not Bullish On Solana? 4 New Reasons Why You Should Be<\/a><\/div>\n

Bitcoin recently reached a local top at $35,300, leading Crypto Soulz to believe a price decline may follow. The analyst emphasizes retesting the $31,500 level as crucial support, which Bitcoin did not revisit during the recent price surge.\u00a0<\/span><\/p>\n

Crypto Soulz notes that spot and perpetual contracts rose during the pump, indicating potential market instability. Additionally, the futures market experienced significant liquidations during the rally, similar to previous wipe-outs in January and August.<\/span><\/p>\n

\"Bitcoin
BTC’s liquidation pools. Source: Crypto Soulz on X<\/a>.<\/figcaption><\/figure>\n

Upon examining the <\/span>liquidation heatmap<\/span><\/a>, Crypto Soulz identifies liquidity below the current price, implying a potential downward movement. Soulz targets specific liquidity pools at $32,300 and $30,800 as potential areas for the price decline.\u00a0<\/span><\/p>\n

Based on its analysis, Crypto Soulz expects Bitcoin to \u201ccool off\u201d from its current levels and target lower prices.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC retracing to the $34,000 level on the 4-hour chart. Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n

At the time of writing, the price of Bitcoin is currently at $34,000, experiencing a 2.5% retracement in the past 24 hours.<\/span><\/p>\n

Featured image from Shutterstock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin price (BTC) is currently displaying a significant uptrend, showing no signs of slowing down. The cryptocurrency has already begun its fifth bull run, with impressive price targets anticipated in the coming year.\u00a0 A recent report from Matrixport highlights BTC\u2019s history of four distinct bull market cycles, each driven by a unique narrative. However, the latest bull market, which started on June 22, 2023, stands out due to its primary driving force: institutional adoption.\u00a0 Per the report, this surge in institutional interest can be attributed to Bitcoin’s characteristics, traditionally associated with safe-haven investments like Gold, as well as mounting concerns over the United States debt-to-GDP ratio. Matrixport’s report predicts that Bitcoin’s price could reach an impressive $125,000 by December 2024. Bitcoin Price Rise Aligns With Mounting US Debt Matrixport suggests its emergence as a new payment mechanism propelled the first Bitcoin bull market in 2011. The second cycle was driven by China, where Bitcoin gained recognition as an alternative form of money.\u00a0 The rise of initial coin offerings (ICOs) marked the third cycle, providing a novel means of establishing and funding companies. The fourth cycle saw the decentralized finance (DeFi) summer and the NFT craze dominating the market. However, per the report, Bitcoin’s current bull market is driven by institutional adoption. Institutions are considering Bitcoin for diversifying their asset allocation due to its characteristics akin to safe-haven investments.\u00a0 Related Reading: SHIB Will Lose Place To PEPE In New Bull Cycle, Analyst Makes The Case Notably, the surge in Bitcoin’s value coincides with the United States’ escalating debt-to-GDP ratio, making it an attractive choice for institutions seeking to hedge against potential economic instability. Based on historical price signals, Matrixport estimated that Bitcoin price could reach $125,000 by December 2024.\u00a0 Interestingly, the report suggests that the onset of this bull market was officially recognized when BTC reached a new one-year high on June 22, 2023.\u00a0 Furthermore, Matrixport advises that the optimal entry point to buy Bitcoin is ideally 14-16 months before the next halving event. The report suggested that the end of October 2022 was an opportune time to enter the market when Bitcoin traded at $17,000. Potential BTC Correction On The Horizon? Despite the hype surrounding the current uptrend experienced by most cryptocurrencies on the market, crypto analyst “Crypto Soulz” presents a contrasting view on the future of Bitcoin price. In a recent analysis of X (formerly Twitter), the analyst provides several reasons for considering a short position on BTC. According to Crypto Soulz, the next significant resistance level is at $37,330, but Soulz doubts the possibility of retesting it in the current market conditions.\u00a0 Related Reading: Still Not Bullish On Solana? 4 New Reasons Why You Should Be Bitcoin recently reached a local top at $35,300, leading Crypto Soulz to believe a price decline may follow. The analyst emphasizes retesting the $31,500 level as crucial support, which Bitcoin did not revisit during the recent price surge.\u00a0 Crypto Soulz notes that spot and perpetual contracts rose during the pump, indicating potential market instability. Additionally, the futures market experienced significant liquidations during the rally, similar to previous wipe-outs in January and August. Upon examining the liquidation heatmap, Crypto Soulz identifies liquidity below the current price, implying a potential downward movement. Soulz targets specific liquidity pools at $32,300 and $30,800 as potential areas for the price decline.\u00a0 Based on its analysis, Crypto Soulz expects Bitcoin to \u201ccool off\u201d from its current levels and target lower prices.\u00a0 At the time of writing, the price of Bitcoin is currently at $34,000, experiencing a 2.5% retracement in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":557730,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85533,485,8856,88295,656,679,6047,680,755,768,1119,1144,8390,78790,6664,1558],"class_list":["post-557729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bull-run","tag-bitcoin-chart","tag-bitcoin-halving","tag-bitcoin-halving-cycles","tag-bitcoin-news","tag-bitcoin-price","tag-bitcoin-price-action","tag-bitcoin-price-analysis","tag-bitcoin-technical-analysis","tag-bitcoin-trading","tag-btc","tag-btcusd","tag-btcusd-price","tag-btcusdt","tag-crypto","tag-cryptocurrency"],"acf":[],"yoast_head":"\nBitcoin Price Surge: Matrixport Forecasts $125,000 Price Target By 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