The Price Of Bitcoin (BTC) Will Reach $50,000 In January If This Forecast Comes True, According To Matrixport

✍️ 3 January, 2024 - 9:27 👤 Editor: Jakub Motyka

• Matrixport predicts that the price of Bitcoin (BTC) could reach $50,000 in January due to the expected approval of Bitcoin spot ETFs.
• An increase in the price of Bitcoin driven by institutional investors and a significant injection of capital into the market is also expected.
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Matrixport, a cryptocurrency financial services platform, has predicted that the price of Bitcoin (BTC) could reach $50,000 during this same month of January. The imminent approval of the first spot Bitcoin ETFs has a lot of weight in this forecast.

For now, let's remember that the price of the reigning cryptocurrency has already broken $45,000.

Matrixport Predicts A Price Of $50,000 For Bitcoin (BTC) In January, And $125,000 This Year

But the Bitcoin price prediction doesn't end there. According to Matrixport , the approval of spot Bitcoin exchange-traded fund (ETF) applications by the SEC, combined with This year's halving could cause the price of BTC to rise to $125,000​ before that ends in 2024.

Despite 160% growth in 2023, Bitcoin (BTC) is expected to see a significant rise once the SEC approves applications of spot Bitcoin ETFs from companies like Blackrock or Fidelity. In fact, the leak of initial reports suggesting the approval of ETFs on January 2 or 3 fueled a mini Bitcoin rally, which surpassed the $45,000 mark for the first time in two years​.

Matrixport suggests that an expected injection of $24-50 billion in flows could trigger a new BTC rally.

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