Matrixport: Bitcoin will grow by 310% by 2025

Біллі Маркус" href="https://noworries.media/biography/billi-markus/" data-bio-id="3704">Marcus Thielen, Head of Research and Strategy at Matrixport, shared his opinion on the future of bitcoin.

Marcus Thielen expects the value of BTC to exceed $ 125,000 by the end of 2024. According to historical data, a reversal to a multi-month rally begins as soon as prices hit an annual high, thus confirming the end of the bearish cycle. Thus, on July 6, bitcoin hit $ 31,500 at the moment, a year’s high.

The signal was formed at the end of last month, when the rate of the flagship cryptocurrency exceeded $ 31,000. The previous impulses occurred in August 2012, December 2015, May 2019, and August 2020, preceding the active growth of BTC.

Based on the data on the asset’s profitability from key marks during these periods, Thielen suggested that within 12 months, the value of BTC would increase by 123% to $ 65,539, and in 18 months, it would increase by 310% to $ 125,731.

Earlier, Markus Thielen emphasized: «The bitcoin rate has increased by 40% since the beginning of the year. At the same time, 35% of the growth is accounted for by trading in the United States. This is a significant contribution to the asset’s rally.»

At the time of writing, bitcoin is trading at $ 30,161. The asset’s market capitalization is $ 585 billion.