MatrixPort Head of Research "BTC will reach $70,000 by the end of the year

"We forecast bitcoin to rise 65% by the end of the year and break $70,000, driven by the macro environment, monetary easing, the US election and the expansion of spot bitcoin ETFs," Markus Thielen, head of research at crypto financial services firm MatrixPort and founder of 10X Research, said in a report, according to CoinDesk. "While the Fed has delayed its first rate cut until May or June, inflation is low and growth is sustainable. In addition, we have the halving of bitcoin and the US presidential election coming up, which are historically bullish." "Bitcoin has risen in 10 of the last 13 years. However, January returns have been higher seven times and lower six times."