There have been many predictions about the future of Bitcoin. However, the predictions made by Matrixport’s principal researcher, Markus Thielen, have drawn a lot of public attention.
In a recent statement from LinkedIn, Thielen forecast By the end of the year, the bitcoin price could reach around $45,000.
#Matrix port Lead researcher predicts #bitcoin $45,000 by the end of the year $bitcoin https://t.co/ArsM1Hf8MX
— Kyptos (@azcoinnews) April 26, 2023
Thielen’s forecast is based on the belief that inflation will be excellent conditions for risky assets, especially Bitcoin. He also sees the US 10-year Treasury yield below 3.5% as an indicator. According to Thielen, despite the recent volatility, the bitcoin price is still at the position established by the CPI/FOMC roadmap released in early February.
Here are 10 takeaways from Thielen’s statement:
- According to the CPI/FOMC roadmap released in February, the Bitcoin price is in the right place.
- Based on the impact of January, the Bitcoin price could end the year around $45,000, which is a fairly feasible price.
- The predicted path can be used as a path for buying and selling bitcoins.
- It is recommended to sell when the price is 10% above fair value or buy when the price is -10% below fair value.
- A half position should be added at $27,500.
- Suggested purchase at “fair value” of $27,000-27,500, even with a lower discount.
- U.S. 10-year bond yields below 3.5% suggest that inflation will be an important driver of risk assets, especially Bitcoin.
- A volatility index (VIX) below 20 could spur markets higher, with bitcoin outperforming stocks due to its sensitivity to liquidity.
- Bitcoin is currently neither overvalued nor undervalued, and the greed and fear indicators are not showing any extreme results.
- Patience and discipline are key to sticking with data and analytics. The road to $45,000 continues.
Overall, Thielen’s predictions have brought optimism to bitcoin investors, who have weathered a volatile market in recent months. However, not all forecasts are guaranteed and investors should always conduct their own research before making any investment decisions.
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according to Kyptos