Bitcoin Could Rally to $125K by End-2024: Matrixport

Bitget App

Trade smarter

Bitget

News

Markets

Bitcoin Could Rally to $125K by End-2024: Matrixport

Coindesk2023/07/06 07:55

By:Omkar Godbole

The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.

Crypto services provider Matrixport, one of the few firms on bitcoin (BTC) late last year, now expects the leading cryptocurrency to rally to as high as $125,000 by the end of 2024.

The forecast is based on data that show a multimonth bull market comprising a meteoric surge in market value unfolds once prices confirm the end of a bear market, which they do by setting a 12-month high for the first time in at least a year.

That signal was triggered late last month after prices topped $31,000, the highest since June 2022. Previous signals occurred in August 2012, December 2015, May 2019 and August 2020, with prices rallying in the following years.

"On June 22, 2023, bitcoin made a new one-year high, marking the first time in a year. This signal has historically indicated the end of bear markets and the start of new crypto bull markets," Markus Thielen, head of research and strategy at Matrixport, said in a report shared with CoinDesk.

"If history is any guide, bitcoin prices could climb by +123% over twelve months and by +310% over eighteen months – based on the average return of the signals triggered in 2015, 2019 and 2020. That would lift prices to $65,539 in twelve months and $125,731 over eighteen months," Thielen added.

Thielen ignored the 2012 signal and the subsequent 5,285% price rise in 2013, calling it an "epic, out-of-proportion" bull market.

Bitcoin at press time, CoinDesk data show.

Matrixport's view is consistent with bitcoin's tendency to chalk out sharp uptrends in the 12-18 months after the mining reward halves. The fourth halving, which will cut the new coins paid per block to 3.25 BTC from 6.5 BTC, is set to happen in March/April next year.

Edited by Sheldon Reback.

155

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

The RWA (Real-World Assets) sector has been gaining significant traction in the crypto space, as it tokenizes traditional assets like real estate and bonds to bridge the gap between TradFi and DeFi. This process unlocks trillions of dollars in potential value, while enabling broader access to high-value investments through asset fractionalization, increased liquidity, and lower entry barriers. RWA also diversifies and stabilizes DeFi collateral options, addressing the sector's over-reliance on crypto-native assets and paving the way for large-scale adoption. With regulatory frameworks becoming clearer worldwide, the compliance advantages of RWAs are increasingly evident—drawing in institutional capital. What sets RWA projects apart is their connection to real-world income streams like rent and interest payments, offering more sustainable returns than purely speculative assets. These cash-flow-generating features appeal to investors seeking steady returns. As such, RWA is seen as a crucial step in the evolution of blockchain technology from concept to practicality. Its development potential and practical use cases make it an important sector in the crypto industry today.

Bitget VIP•2025/03/28 05:56