Matrixport Researcher Predicts Bitcoin May Hit $45,000
Matrixport Chief Researcher Markus Thielen has made a prediction that Bitcoin may reach a price of approximately $45,000 by the end of this year. In a LinkedIn post, Thielen explained that the US 10-year bond yield has started to trade below 3.50%, which indicates that inflation will likely be a significant tailwind for risk assets such as Bitcoin.
Matrixport chief researcher Markus Thielen predicted that the price of Bitcoin may reach around $45,000 by the end of this year, saying that "as the US 10yr bond yield has started to trade below 3.50%, we can assume that inflation will be a big tailwind for risk assets – notably…
— Wu Blockchain (@WuBlockchain) April 26, 2023
Hedge Against Inflation
Thielen’s prediction is based on the assumption that Bitcoin’s price will continue to benefit from rising inflation. As inflation continues to increase, Bitcoin’s value as a hedge against inflation may become more apparent to investors.
This prediction comes as Bitcoin has recently experienced a surge in price, breaking through the $60,000 level for the first time in several months. The cryptocurrency has been on a rollercoaster ride since hitting an all-time high of nearly $65,000 in mid-April 2021 and then plummeting to around $30,000 in July 2021. However, it has been on an upward trend since then, and many investors are optimistic about its future prospects.
Skepticism over Thielen’s Prediction
Thielen’s prediction is not without its skeptics, as some analysts believe that Bitcoin’s price may not be directly tied to inflation. They argue that Bitcoin’s value is primarily based on market sentiment and that its price can fluctuate dramatically based on factors such as regulatory changes and market volatility.
Despite the skepticism, Thielen’s prediction has gained traction among some investors and analysts who see Bitcoin’s potential as a store of value and a hedge against inflation. As inflation concerns continue to mount, it is likely that more investors will turn to Bitcoin as a potential way to protect their wealth.
Thielen’s prediction of a $45,000 Bitcoin price by the end of the year is a bold one, but it remains to be seen whether it will come to fruition. Nonetheless, it is clear that Bitcoin remains a popular investment choice for many, and its potential as a hedge against inflation may continue to drive its price higher in the coming months.
