Bitcoin could reach $50,000 by the end of the week: Matrixport report

While Bitcoin started 2024 with a significant rise, crypto investment management firm Matrixport repeated its price prediction of $ 50 thousand for January. The company claimed that corporate companies could no longer risk missing the rally by not making purchases and that it would make many important purchases as the markets opened.


Matrixport, the crypto investment management company of Jihan Wu, one of the founders of Bitmain, published a new report in which it predicted a price of $ 50 thousand for January. The company stated that it specifically expects a rally that will "leave investors in the wrong corner."

In fact, this rally seems to have come hours before the US markets opened. Bitcoin rose to $45,500 today with the rally it started overnight. US markets open at 17.30 GMT. Therefore, with the rally in Bitcoin, sharp increases can be seen in the shares of many cryptocurrency-focused service companies.

Matrixport also emphasized the situation known as supply shock in Bitcoin and stated that Bitcoins withdrawn from exchanges to cold wallets, especially after the FTX crisis, could cause problems for those who want to buy.