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Bitcoin Today 12/13/2024: Matrixport predicts BTC at US$ 160 thousand in 2025
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THE Bitcoin (BTC) price has arrived to touch US$ 102,000 and try to renew its highsbut retreated throughout this Friday (13). As a result, the cryptocurrency opened the day with a slight drop of 0.3%, but still operating above US$100,000.
Falls predominated in the Top 10, with emphasis on the 4.7% devaluation of Cardano (ADA). The price of Ethereum (ETH), in turn, was practically stable, registering a slight drop of 0.1%. XRP fell 2% and Solana (SOL) followed with a drop of 1.2%.
Although declines also predominated in the Top 100, increases were more significant. The VIRTUAL token had the biggest increase of the day with 25.7% gainswhile the biggest drop was with BEAM and its drop of 9.3%. Tokens such as LDO, ENA and OP also registered significant movements in the last 24 hours, according to data from CoinGecko.
In a bold prediction, on-chain analytics firm Matrixport said that BTC is about to reach $160,000 in the next few days. With this, the company stated that the cryptocurrency could experience gains of 60% in the first weeks of 2025.
Bitcoin at US$ 160 thousand for 2025
According to the report, this may be because Bitcoin, like other cryptocurrencies, has seen a broad increase in volatility. On the other hand, producer inflation data in the United States (PPI) came on the risewhich took away some of the enthusiasm of investors.
This disappointment with the PPI explains part of the correction that BTC had when it reached US$102 thousand. But for Matrixport, BTC should reach US$ 160 thousand next yearciting a wave of positive trends in the market.
Notably, the report highlighted growing institutional interest, anticipation about pro-crypto regulation in the US, and other factors. Furthermore, the report also recommended allocating 1.55% of a portfolio to BTC for “diversification while maintaining portfolio stability”.
Interestingly, Matrixport’s allocation comes less than 24 hours after BlackRock also made its first BTC allocation recommendation. In her report, the manager suggested that investors allocate between 1% and 2% of your cryptocurrency portfolio.
Furthermore, the report said that robust capital inflow into the US Spot Bitcoin ETF, favorable macroeconomic environment and expanding global liquidity drive the price. Last Thursday (12), ETFs received $597 million in inflows, marking the 12th day in a row of investment. IBIT received US$431.6 million and led the inflow of resources.
Bitcoin Today 12/13/2024: Matrixport predicts BTC at US$ 160 thousand in 2025
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Bitcoin Today 12/13/2024: Matrixport predicts BTC at US$ 160 thousand in 2025
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Bitcoin Today 12/13/2024: Matrixport predicts BTC at US$ 160 thousand in 2025
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Bitcoin Today 12/13/2024: Matrixport predicts BTC at US$ 160 thousand in 2025
