{"id":566340,"date":"2023-12-21T19:00:35","date_gmt":"2023-12-21T19:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=566340"},"modified":"2024-06-11T08:01:17","modified_gmt":"2024-06-11T08:01:17","slug":"matrixport-foresees-bitcoin-hitting-50000-price-mark","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matrixport-foresees-bitcoin-hitting-50000-price-mark\/","title":{"rendered":"Matrixport Foresees Bitcoin Hitting $50,000 Price Mark: Here&#8217;s When"},"content":{"rendered":"<p>Matrixport, a crypto financial services firm founded by Jihan Wu, former CEO of Bitmain has recently shared a <a href=\"https:\/\/webapp.bitexch.io\/io-detail\/277\" target=\"_blank\" rel=\"noopener nofollow\">summary<\/a> that delves into its forecast for Bitcoin, predicting a significant surge in its price.<\/p>\n<p>Founded in 2019, Matrixport has been closely monitoring Bitcoin\u2019s market dynamics and trends. Their recent analysis suggests a robust future for Bitcoin, particularly noting its potential to break the $50,000 barrier by 2024.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/eyes-on-50000-bitcoin-poised-for-major-rally\/\" target=\"_blank\" rel=\"noopener \">Eyes On $50,000: Bitcoin Poised For Major Rally Amid Spot ETF Optimism \u2013 Analyst<\/a><\/div>\n<h2>Spot ETF Approval Could Catapult Bitcoin Above $50,000<\/h2>\n<p>Matrixport bases its optimistic forecast on the anticipated approval of Bitcoin spot ETFs by the US Securities and Exchange Commission (SEC) in January. This crucial regulatory nod is seen as a pivotal factor that could propel Bitcoin&#8217;s price to soar above $50,000.<\/p>\n<p>The summary draws a parallel to a previous significant moment in Bitcoin\u2019s history \u2013 the launch of Bitcoin futures by the CME Group and CBOE in December 2017. That event marked a notable spike in Bitcoin&#8217;s price, pushing it to reach $20,000 for the first time.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Matrixport expected the SEC to approve Bitcoin Spot ETFs in January and this should lift Bitcoin prices above $50,000 by the end of January 2024. TV commercials are being rolled out already from multiple ETF applicants, which will continue to support Bitcoin prices.\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\"https:\/\/twitter.com\/WuBlockchain\/status\/97066672?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">December 21, 2023<\/a><\/p><\/blockquote>\n<p>Matrixport equates the potential impact of spot ETFs to this historical milestone, anticipating a similar, if not greater, <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/crypto-funds-11-week-inflow-streak-snapped-bitcoin-faces-33m-exodus-as-altcoins-shine\/\" target=\"_blank\" rel=\"noopener \">market reaction<\/a>.<\/p>\n<h2>Industry Experts Echo Matrixport&#8217;s Optimism<\/h2>\n<p>Matrixport is not alone in its bullish stance on Bitcoin\u2019s prospects. Other industry experts and analysts have echoed similar predictions, especially in light of the probable approval of a spot Bitcoin ETF.<\/p>\n<p>Michael van de Poppe, a prominent crypto analyst, recently suggested that Bitcoin is <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/eyes-on-50000-bitcoin-poised-for-major-rally\/\" target=\"_blank\" rel=\"noopener \">poised to reach the $47,000-$50,000 range soon<\/a>. Van de Poppe, just like Matrixport, attributes this potential surge to the anticipated approval of spot BTC ETFs by leading financial entities like BlackRock, Fidelity, and Ark Investment.<\/p>\n<p>Investment management firm VanEck also shares this sentiment, forecasting a <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/the-bitcoin-spot-etf-boom-vaneck-forecasts-2-4-billion-inflows-in-q1-2024\/\" target=\"_blank\" rel=\"noopener \">substantial influx of funds<\/a> into spot Bitcoin ETFs. They predict over $2.4 billion pouring into these spot ETFs in the first quarter of 2024 alone.<\/p>\n<p>VanEck\u2019s report highlights a growing investor trend towards \u2018hard money\u2019 assets, which are less influenced by US authorities. Bitcoin, with its resilience and limited correlation to traditional financial markets, according to VanEck, stands out as a particularly attractive option for investors.<\/p>\n<p>VanEck analysts also hold a firm belief in Bitcoin\u2019s market stability, projecting that its price will likely not fall below $30,000 in early 2024. This prediction is reinforced by another analyst, Ali, who has identified a robust support zone for Bitcoin <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-analyst-reveals-the-price-btc-wont-drop-below\/\" target=\"_blank\" rel=\"noopener \">between $37,150 and $38,360<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/crypto-funds-11-week-inflow-streak-snapped-bitcoin-faces-33m-exodus-as-altcoins-shine\/\" target=\"_blank\" rel=\"noopener \">Crypto Funds\u2019 11-Week Inflow Streak Snapped: Bitcoin Faces $33M Exodus As Altcoins Shine<\/a><\/div>\n<p>This range is backed by substantial buying activities from around 1.52 million addresses, accumulating approximately 534,000 BTC. Ali\u2019s analysis suggests that this significant accumulation acts as a strong foundation, potentially preventing further downturns in Bitcoin\u2019s value.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/ImLT6Kr6\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1556\"><figcaption class=\"wp-caption-text\">Bitcoin (BTC) price is moving sideways on the 4-hour chart. Source: BTC\/USDT on<a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\"> TradingView.com<\/a><\/figcaption><\/figure>\n<p>Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Matrixport, a crypto financial services firm founded by Jihan Wu, former CEO of Bitmain has recently shared a summary that delves into its forecast for Bitcoin, predicting a significant surge in its price. Founded in 2019, Matrixport has been closely monitoring Bitcoin\u2019s market dynamics and trends. Their recent analysis suggests a robust future for Bitcoin, particularly noting its potential to break the $50,000 barrier by 2024. Related Reading: Eyes On $50,000: Bitcoin Poised For Major Rally Amid Spot ETF Optimism \u2013 Analyst Spot ETF Approval Could Catapult Bitcoin Above $50,000 Matrixport bases its optimistic forecast on the anticipated approval of Bitcoin spot ETFs by the US Securities and Exchange Commission (SEC) in January. This crucial regulatory nod is seen as a pivotal factor that could propel Bitcoin&#8217;s price to soar above $50,000. The summary draws a parallel to a previous significant moment in Bitcoin\u2019s history \u2013 the launch of Bitcoin futures by the CME Group and CBOE in December 2017. That event marked a notable spike in Bitcoin&#8217;s price, pushing it to reach $20,000 for the first time. Matrixport expected the SEC to approve Bitcoin Spot ETFs in January and this should lift Bitcoin prices above $50,000 by the end of January 2024. TV commercials are being rolled out already from multiple ETF applicants, which will continue to support Bitcoin prices.\u2026 \u2014 Wu Blockchain (@WuBlockchain) December 21, 2023 Matrixport equates the potential impact of spot ETFs to this historical milestone, anticipating a similar, if not greater, market reaction. Industry Experts Echo Matrixport&#8217;s Optimism Matrixport is not alone in its bullish stance on Bitcoin\u2019s prospects. Other industry experts and analysts have echoed similar predictions, especially in light of the probable approval of a spot Bitcoin ETF. Michael van de Poppe, a prominent crypto analyst, recently suggested that Bitcoin is poised to reach the $47,000-$50,000 range soon. Van de Poppe, just like Matrixport, attributes this potential surge to the anticipated approval of spot BTC ETFs by leading financial entities like BlackRock, Fidelity, and Ark Investment. Investment management firm VanEck also shares this sentiment, forecasting a substantial influx of funds into spot Bitcoin ETFs. They predict over $2.4 billion pouring into these spot ETFs in the first quarter of 2024 alone. VanEck\u2019s report highlights a growing investor trend towards \u2018hard money\u2019 assets, which are less influenced by US authorities. Bitcoin, with its resilience and limited correlation to traditional financial markets, according to VanEck, stands out as a particularly attractive option for investors. VanEck analysts also hold a firm belief in Bitcoin\u2019s market stability, projecting that its price will likely not fall below $30,000 in early 2024. This prediction is reinforced by another analyst, Ali, who has identified a robust support zone for Bitcoin between $37,150 and $38,360. Related Reading: Crypto Funds\u2019 11-Week Inflow Streak Snapped: Bitcoin Faces $33M Exodus As Altcoins Shine This range is backed by substantial buying activities from around 1.52 million addresses, accumulating approximately 534,000 BTC. Ali\u2019s analysis suggests that this significant accumulation acts as a strong foundation, potentially preventing further downturns in Bitcoin\u2019s value. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,6664,87839,84647],"class_list":["post-566340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-matrixport","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n<title>Matrixport Foresees Bitcoin Hitting $50,000 Price Mark: Here&#039;s When<\/title>\n<meta name=\"description\" content=\"Matrixport, a crypto financial services firm has recently shared a summary that delves into its forecast for Bitcoin, predicting a...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Matrixport Foresees Bitcoin Hitting $50,000 Price Mark: Here&#8217;s When","url":"http:\/\/uniquehot.com\/news\/matrixport-foresees-bitcoin-hitting-50000-price-mark\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/matrixport-foresees-bitcoin-hitting-50000-price-mark\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto","matrixport","spot bitcoin etf"],"dateCreated":"2023-12-21T19:00:35Z","datePublished":"2023-12-21T19:00:35Z","dateModified":"2024-06-11T08:01:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Matrixport Foresees Bitcoin Hitting $50,000 Price Mark: Here&#8217;s When\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matrixport-foresees-bitcoin-hitting-50000-price-mark\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matrixport-foresees-bitcoin-hitting-50000-price-mark\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\",\"matrixport\",\"spot bitcoin etf\"],\"dateCreated\":\"2023-12-21T19:00:35Z\",\"datePublished\":\"2023-12-21T19:00:35Z\",\"dateModified\":\"2024-06-11T08:01:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566340"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=566340"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=566340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=566340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=566340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}