Bitcoin’s growth outpaces cryptocurrency analysts' opinions

Matrixport analysts said that their forecast of bitcoin reaching $ 70,000 by the end of 2024, published in February BTC $99,250.15 Bitcoin 0.91% Market capitalization $1.96 trillion VOL. 24 hours $4.74 billion , was too conservative. The value of the flagship asset may exceed this mark as early as November.

Experts believe that the victory of the Republican candidate Donald Trump in the US presidential election in November could trigger a sharp rise in the value of bitcoin.

«Trump's return to the U.S. presidency in 2025 could have significant favorable consequences for cryptocurrencies, including bitcoin. That is why our $ 70,000 target for the end of this year may be too conservative, despite its accuracy,» the experts said.

Trump’s last presidential term was marked by business-friendly policies and proposals to ease economic regulation, Matrixport believes. «The former US president’s statements in support of cryptocurrencies and mining further strengthen investors' faith in digital assets,» the company’s experts said.

Earlier, Arthur Hayes, a crypto investor and co-founder of BitMEX, said that the situation in the Middle East will determine the direction of bitcoin prices — if the conflict between Israel and Iran moves into a hotter phase, the value of the first cryptocurrency, like oil, will soar.