Bitcoin Likely To Witness Higher Crypto Prices Even If SEC Doesn't Approve Spot ETFs: Matrixport
Portfolio Pulse from Khyathi Dalal
Markus Thielen, Head of Research at Matrixport, suggests that Bitcoin prices are likely to increase in 2024 even without the approval of a spot Bitcoin ETF by the SEC. He notes that Bitcoin's dominance chart should be monitored for signs of an altcoin rally and mentions the historical price increases in Bitcoin halving years, with the next halving scheduled for April 2024. Additionally, he points out that crypto markets tend to perform well when liquidity expectations improve, as seen in 2023. Matrixport's previous estimates for Bitcoin's price by the end of 2023 ranged from $42,000 to $56,000, depending on Tether's market cap expansion. The article also references the potential impact of the Fed's interest rate policies on Bitcoin prices.
December 15, 2023 | 5:44 pm
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Bitcoin is expected to see price increases in 2024 according to Matrixport's Head of Research, regardless of the SEC's stance on spot ETFs. Historical trends and the upcoming Bitcoin halving event are cited as positive indicators.
The analysis by Matrixport's Head of Research is bullish for Bitcoin, citing historical price increases during halving years and improved liquidity expectations. The anticipation of these events could drive investor sentiment and Bitcoin's price upward in the short term.
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