₿itcoin Price Could Reach $45K by Christmas & $1M by 2030! 📈🤑

When ₿itcoin’s performance is positive in January, the rally tends to continue through to the end of the year, the report said.

U.S. institutions have probably been behind January’s rally in ₿itcoin (BTC), when the cryptocurrency gained more than 38%. An outperformance this early in the year tends to be bullish for the token’s price, crypto services provider Matrixport said in a research report Wednesday.

In five of the six years that ₿itcoin has rallied in January, the cryptocurrency has ended the year with positive returns. On average, the gain the rest of the year has been more than 245%, wrote Markus Thielen, head of research.

The only year when ₿itcoin declined after a strong January was 2014, when prices had just made a bull-market peak, the note said.

Matrixport says the driver of the 2023 bull market could be the expected March 2024 ₿itcoin halving cycle, when the amount of the cryptocurrency entering the system every 10 minutes drops by 50%. Therefore, there is a high statistical probability that the ₿itcoin price could double from here until year end, the report said.

This means the ₿itcoin price could reach $45,000 by Christmas, the report added.

Bitcoin Halving, Explained:
https://www.coindesk.com/learn/bitcoin-halving-explained/

and

First Mover Asia: Lido DAO Governance Token Down, Staked Ether Stable as Withdrawal Proposal Comes Into Focus; Bitcoin Rises as Fed Rate Decision Nears:
https://www.coindesk.com/markets/2023/02/01/first-mover-asia-lido-dao-governance-token-down-staked-ether-stable-as-withdrawal-proposal-comes-into-focus-bitcoin-rises-as-fed-rate-decision-nears/

and

Bitcoin Beating US Government Bonds Is a Whole Vibe Shift in Markets:
https://www.bloomberg.com/news/articles/2023-01-31/bitcoin-beating-us-government-bonds-is-a-whole-vibe-shift-in-markets

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