Matrixport Chief Researcher Predicts Bitcoin to Reach $45,000 by Year End
Predictions about the future price of Bitcoin are a dime a dozen. However, when the chief researcher of Matrixport, Markus Thielen, makes a prediction, people tend to sit up and take notice. In a recent statement on LinkedIn, Thielen has predicted that the price of Bitcoin may reach around $45,000 by the end of this year.
Thielen’s prediction is based on his belief that inflation will be a big tailwind for risk assets, notably Bitcoin. He also believes that the US 10yr bond yield trading below 3.50% is an indicator of this. According to Thielen, the CPI / FOMC roadmap that was laid out in early February shows that Bitcoin prices are exactly where they should be, despite recent volatility.
Here are 10 key takeaways from Thielen’s statement:
- Bitcoin prices are where they should be, according to the CPI / FOMC roadmap laid out in February.
- Based on the January Effect, Bitcoin prices could finish the year around $45,000, which is now quite achievable.
- The predictable path can be used as a roadmap for buying and selling Bitcoin.
- Selling is suggested when prices are +10% above fair value or buying when they are -10% below.
- Adding half a position at $27,500 is recommended.
- Buying at “fair value” of $27,000/$27,500 could make sense, even if discounts are preferred.
- The US 10yr bond yield trading below 3.50% indicates that inflation will be a big tailwind for risk assets, notably Bitcoin.
- The volatility index (VIX) trading below 20 could set up the market for a slow summer grind higher, with Bitcoin outperforming stocks due to its sensitivity to liquidity.
- Bitcoin is currently neither over- nor under-valued, and the Greed & Fear indices are not signaling any extreme readings.
- Patience and discipline are key to sticking to data and analysis. The path to $45,000 continues.
Overall, Thielen’s prediction provides some optimism for Bitcoin investors, who have been weathering a volatile market in recent months. However, as with all predictions, there are no guarantees, and investors should always do their own research before making any investment decisions.
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