The post Bitcoin tops $40K for first time in 19 months, Matrixport eyes $125K in 2024 appeared on BitcoinEthereumNews.com.

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. 3, according to CoinGecko. It also marks a new year-to-date high for Bitcoin, which is up over 140% since Jan. 1. The price of Bitcoin over the last 12 months, which has gone from under $17,000. Source: CoinGecko 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. Bitcoin is expected to again halve — when mining rewards are cut by 50% — in mid-April 2024. “As miners tended to hoard Bitcoins before each halving, prices increased by +200%, which would project Bitcoin reaching $125,000,” Matrixport said. Source: https://cointelegraph.com/news/bitcoin-price-40000-first-time-since-april-2022-matrixport-eyes-2024

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Filed under: News - @ December 3, 2023 11:02 pm