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Fred Cole

An editor at FOMOdrive

  • Jul 10, 2023
  • 2 min read

Bitcoin to hit $125,000 by the end of 2024 - Matrixport

Gold Bitcoin coins on glass in front of price chart

Eight's founder is expecting that Bitcoin could potentially increase by 30% in the near future.

Matrixport has reported that the bearish cycle of BTC has come to an end.

The co-founder of the BitMEX exchange predicts that Bitcoin will become the currency of AI and reach a value of $760,000.

JPMorgan believes that the approval of a bitcoin ETF will not have a major effect on the cryptocurrency market.

Michael Sonnenschein, CEO of Grayscale Investments, stated that the involvement of major investment firms in the competition to introduce a bitcoin ETF shows that the original cryptocurrency is no longer a "temporary trend".

JPMorgan believes that the approval of a bitcoin ETF will not have a major effect on the crypto market. This is because similar funds already exist in Canada and Europe, but have not been able to draw in a lot of investors. Furthermore, the money that has been taken out of gold ETFs in the past year has not been beneficial to Bitcoin funds, including futures ETFs.

Michael van de Poppe, the founder of Eight, predicts that Bitcoin could soon increase by 30%, reaching a price range of $41,000 - $42,500.

Matrixport has noted that on June 22, Bitcoin hit a yearly high, which could be a sign that the bearish cycle is coming to an end. According to past trends, BTC could increase by 123% in the span of 12 months and 310% in 18 months. If this is the case, Bitcoin could reach $125,000 by the end of 2024.

Arthur Hayes, one of the co-founders of BitMEX, has expressed his opinion that Bitcoin's special characteristics make it perfect for use in systems with artificial intelligence (AI). He anticipates that the value of Bitcoin will increase to $760,000 within the next couple of years.

Lightning Labs has unveiled a suite of tools to facilitate AI systems' integration with the Bitcoin blockchain and the Lightning Network. These tools are expected to make it easier for AI systems to interact with the two networks.

The Block Data reports that the market share of the Binance exchange has decreased rapidly since the departure of some of its top executives. Currently, only 58% of all cryptocurrency trading is conducted on the platform.

Changpeng Zhao, CEO of Binance, has refuted media reports that the company has been having issues with its upper-level personnel for the past few months.

A lawyer for BarnBridge has confirmed that the U.S. Securities and Exchange Commission (SEC) is conducting a non-public investigation into the company's DAO Protocol. This filing of claims against BarnBridge suggests that the SEC is now targeting smaller players in the crypto market, in addition to larger ones.

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