Bitcoin Hits $40,000 Level
Bitcoin has reached the $40,000 level for the first time since April 2022, climbing around 2% in 24 hours. According to CoinGecko, Bitcoin surged from under $39,500 to strike above $40,000 on Dec. 3.
New Year-to-Date High
The surge in Bitcoin also marks a new year-to-date high for the cryptocurrency. Since January 1, Bitcoin has seen a growth of over 140%.
Predictions for Future Growth
In a note on November 30, Matrixport, a cryptocurrency financial services platform, predicted that Bitcoin would hit over $60,000 by April next year and $125,000 by the end of 2024. Matrixport pointed out that historically, Bitcoin mining rewards halving events have been bullish, leading to price increases of over 200% before each halving. The next halving, expected in mid-April 2024, could propel Bitcoin's price to $125,000, according to Matrixport.
It's important to note that cryptocurrency prices are highly volatile and can fluctuate rapidly. Investors should exercise caution and do thorough research before making any investment decisions.
