Bitcoin

Momentum

Matrix

Rise

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/matrixport-reports-bitcoins-price-trends-maintain-momentum/" data-wpel-link="internal">Matrixport Reports Bitcoin’s Price Trends Maintain Momentum</a> 
Matrixport reported that Bitcoin has largely followed the upward trend predicted in their October 26, 2023, Matrix on Target report. At that time, it was anticipated that the largest <a href="https://en.coin-turk.com/when-is-the-right-time-to-invest-in-cryptocurrencies/" data-wpel-link="internal">cryptocurrency</a> would rise from $22,500 at the beginning of the year to $45,000 by year-end. Bitcoin achieved this target with a 3% margin in the first quarter but experienced a correction during the summer, dropping to the $50,000 range. However, the $125,000 target mentioned in Matrixport’s July 2023 report is still considered an attainable goal. 
<h2 style="text-align: justify" id="strong-can-bitcoin-s-rise-continue-strong">Can Bitcoin’s Rise Continue?</h2> 
Bitcoin has performed in line with expected price movements throughout the year. It was projected to reach $45,000 in January and $63,130 in March. Thus far, Bitcoin has moved close to these levels, largely adhering to the targets set for 2023. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-402741" src="https://coin-turk.com/wp-content/uploads/2024/11/1.jpg" alt="" width="1074" height="570"> 
Experts suggest that in the last two months of the year, Bitcoin retains the potential to reach a yearly high, and if this trend continues, a rapid ascent towards the $125,000 target could occur. 
<h2 style="text-align: justify" id="strong-is-the-2023-target-achievable-strong">Is the 2023 Target Achievable?</h2> 
According to the latest report referencing Matrixport’s previous analysis, the largest cryptocurrency still has the potential to reach the $125,000 target in the second half of 2023. Currently around $70,000, Bitcoin would need to capture the expected momentum in the final two months to align with prior projections. 
Market participants anticipate a strong year-end if Bitcoin can sustain this rapid upward trend. Experts note that the current economic conditions and market dynamics support this ascent, predicting a significant likelihood of parabolic movement. 
The post <a href="https://en.coin-turk.com/matrixport-reports-bitcoins-price-trends-maintain-momentum/" data-wpel-link="internal">Matrixport Reports Bitcoin’s Price Trends Maintain Momentum</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Matrixport Reports Bitcoin’s Price Trends Maintain Momentum

Table of Contents

COINTURK NEWS

Other articles published on Nov 1, 2024

Ripple Co-Founder Chris Larsen Donates $10 Million to Kamala Harris' Presidential Campaign Amid D...

CreationNetwork.ai Emerges as a Leading AI-Powered Platform, Integrating 22+ Tools for Enhanced D...

2024 XRP Price Bull Run: Analyst States When to Start and End

The Innovation Race: Which Blockchain Will Lead the Web3 Era?

Solana News: AgriDex Leverages Stripe to Lower Agri-Trade Costs with Stablecoin Payments

Bitcoin Puell Multiple Back to 1: Is This Runup To New BTC ATH?

Join our free newsletter for daily crypto updates!