bitcoin (btc) has reached the $40,000 level for the first time since April 2022, rising around 2% in 24 hours.
bitcoin rose from below $39,500 to above $40,000 on December 3 to hit a 19-month high, according to CoinGecko bitcoin” target=”_blank” rel=”noopener nofollow”>data.
It also marks a new year-to-date high for bitcoin, which is up more than 140% since January 1. It is down about 42% from its November 10, 2021 all-time high of over $69,000.
On November 30 noteMatrixport predicted that bitcoin would reach over $60,000 by April next year and $125,000 by the end of 2024.
“The years when bitcoin mining rewards were halved were generally optimistic,” Matrixport explained. bitcoin is expected to halve again (when mining rewards are reduced by 50%) in mid-April 2024.
“As miners tended to accumulate Bitcoins before each halving, prices increased by +200%, which would project bitcoin to reach $125,000,” Matrixport said.
