Using Their Previous Successful Predictions as an Example, Analysts Announced Their Year-End Expectations for Bitcoin (BTC)!

Bitcoin While it has managed to stay above $65,000 in recent days, bullish expectations in the market have also increased.

at this point BTC While new ATH predictions are coming for Bitcoin, cryptocurrency company Matrixport stated that the $ 70 thousand price target for Bitcoin by the end of the year may be very modest.

Analysts said a February 2024 report predicting Bitcoin could reach $70,000 by the end of the year was too modest compared to current levels.

Matrixport Analysts stated that their $ 70,000 predictions were successfully realized, but that $ 70,000 may be too conservative, stating that the BTC price will see a big increase thanks to the increased probability of Donald Trump winning the US elections next month and his positive regulations if elected.

“In early February 2024, we predicted that Bitcoin could reach $70,000 by the end of the year.

At the time, Bitcoin was trading around $42,000 (and although some may view our outlook as conservative), this reflected a 65% upside forecast.

As we approach the final two months of 2024, Bitcoin is currently trending just below the $70,000 target.

“As political developments in the US and Trump’s possible victory may affect market sentiment, we predict that Bitcoin may exceed the $70,000 mark.”

Donald TrumpAnalysts state that his return to the US presidency in 2025 could have significant consequences for various sectors of the economy, including cryptocurrencies such as Bitcoin. “Historically, the Trump administration has been known for its attempts to remove regulations that stimulate economic growth by loosening government controls on various industries. “This stance could bode well for Bitcoin and the broader cryptocurrency market, which often sees regulation as a constraint on innovation and growth.” he said.

Analysts added that their previous predictions had been successfully realized and said, “This prediction follows two previous successful predictions. In October 2022, we correctly predicted that Bitcoin would rise to $63,000 by the 2024 halving, and Bitcoin closed less than 1% short of that target. “Similarly, our year-end 2023 forecast predicted an increase from $22,500 to $45,000 (+100%), and the actual result was missed by less than 2%.” he said.

*This is not investment advice.