Bitcoin Price May Reach $45,000 By Year-End, Says Matrixport Chief Researcher

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news.coincu.com 2 h    Reading time: ~2 m Bitcoin Price May Reach $45,000 By Year-End, Says Matrixport Chief Researcher 10 Source: Markus Thielen

Recently, Markus Thielen, chief researcher at Matrixport, made some bold predictions about the future of Bitcoin. According to Thielen, the price of Bitcoin may reach around $45,000 by the end of this year. Thielen explained that this is due to the US 10-year bond yield trading below 3.50%, which means that inflation will be a big tailwind for risk assets, notably Bitcoin.

Despite recent volatility, Thielen believes that Bitcoin prices are exactly where they should be, based on his CPI/FOMC roadmap that he laid out in early February. He also stated that based on the January Effect, Bitcoin prices could finish the year around $45,000, which seems achievable.

Thielen suggested using the predictable path as a roadmap and selling when prices are above the “fair value” level or buying when below. This means that trading actions should be taken every time Bitcoin’s price trades +10% above this level or -10% below it. Therefore, Thielen suggested selling at $30,350 and adding around $25,000.

In addition, Thielen pointed out that as the US 10-year bond yield has started to trade below 3.50%, inflation will be a big tailwind for risk assets, notably BTC. He also noted that Bitcoin is more sensitive to liquidity and is expected to outperform stocks.

Currently, BTC is neither over- or undervalued, nor are the Greed & Fear indices signaling extreme readings. Thielen emphasized that patience and discipline are needed to stick to the data and analysis as the path to $45,000 continues.



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Updated: 04/26/2023 — 03:00

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