Matrixport forecasts Bitcoin to hit $50k in January

Matrixport’s track record includes successful predictions, with two out of six already realized, underscoring the anticipation surrounding their latest forecast of Bitcoin reaching $50,000.

According to a Dec. 21 post on Lookonchain, Matrixport forecasted a surge in Bitcoin (BTC) to $50,000 by January, posing the question of its likelihood. According to the web3 data analysis tool, Matrixport’s history includes six BTC price predictions, with two already being accurate.

Matrixport(@realMatrixport) predicted that Bitcoin will surge to $50K in January 2024.

Will this come true?👇#Matrixport made a total of 6 predictions for $BTC price, 2 of which have already come true.

On Dec 2, 2022, when the $BTC price was $17K, #Matrixport predicted that… pic.twitter.com/V8el6nnrNE

— Lookonchain (@lookonchain) December 21, 2023

One December 2022 prediction came true when Bitcoin was valued at $17,000. Matrixport predicted a 2023 target of $29,000, followed by a modest bull market as BTC surpassed $29,000 on April 11.

As December concludes, Matrixport awaits the outcome of its prediction of Bitcoin surpassing $45,000. The broader forecast includes BTC reaching $50,000 in January 2024, $63,160 by May 2024, and $125,000 by the end of 2024.

Given the recent trend in Bitcoin spot ETFs, where various potential issuers engaged in discussions with the United States Securities and Exchange Commission (SEC) on Dec. 21, anticipation of a $50,000 Bitcoin seems reasonable.

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This inclusive dialogue, involving prominent entities like BlackRock, Valkyrie, ARK 21Shares, Franklin Templeton, Fidelity, VanEck, and Grayscale, raises expectations for streamlined approvals of spot Bitcoin ETFs in January.