Matrixport Predicts Bitcoin Price Could Reach $125K by December 2024 Due to Institutional Demand

Digital assets platform Matrixport predicts that Bitcoin's price is in the early stages of its fifth bull market, driven by institutional investor demand. The firm expects Bitcoin to reach $125,000 by December 2024, with a current rally expected to peak at $45,000 before a correction and a return to all-time highs. The report cites the ballooning US debt and high inflation as reasons for institutional investors to turn to Bitcoin, and notes that the cryptocurrency's characteristics make it an attractive diversification option. The upcoming Bitcoin halving in mid-April is expected to further increase demand for the cryptocurrency.