Bitcoin has hit a 19-month high, and Matrixport predicts it will keep climbing well into next year.
Bitcoin (BTC) has reached the $40,000 level for the first time since April 2022, climbing around 2% in 24 hours.
Bitcoin surged from under $39,500 to strike above $40,000 on Dec.
It also marks a new year-to-date high for Bitcoin, which is up over 140% since Jan.
In a Nov. 30 note, Matrixport predicted that Bitcoin would hit over $60,000 by April next year and $125,000 by the end of 2024.
“The years when Bitcoin mining rewards were halved were generally bullish,” Matrixport explained.
“As miners tended to hoard Bitcoins before each halving, prices increased by +200%, which would project Bitcoin reaching $125,000,” Matrixport said.
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