{"id":87457,"date":"2023-11-24T10:32:53","date_gmt":"2023-11-24T08:32:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87457"},"modified":"2025-09-13T11:56:39","modified_gmt":"2025-09-13T08:56:39","slug":"matrixport-says-bitcoins-break-above-40-000-is-inevitable","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/matrixport-says-bitcoins-break-above-40-000-is-inevitable\/","title":{"rendered":"Matrixport says Bitcoin&#8217;s break above $40 000 is &#8216;inevitable&#8217;"},"content":{"rendered":"<p>Bitcoin could surpass $40 000 by year-end after the US authorities settle their claims against Binance and its former CEO Changpeng Zhao, Matrixport said.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Despite initial concerns, Bitcoin is poised to surpass $40,000 in December, showing resilience post-<a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> news. <a href=\"https:\/\/twitter.com\/hashtag\/Tether?src=hash&#038;ref_src=twsrc%5Etfw\">#Tether<\/a>\u2019s rising market cap suggests a trend of institutional funds flowing into <a href=\"https:\/\/twitter.com\/hashtag\/stablecoins?src=hash&#038;ref_src=twsrc%5Etfw\">#stablecoins<\/a>, impacting Bitcoin and elevating fees. Overall, the <a href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#crypto<\/a> market is\u2026 <a href=\"https:\/\/t.co\/J0WGFmNpQn\">pic.twitter.com\/J0WGFmNpQn<\/a><\/p>\n<p>\u2014 Matrixport (@realMatrixport) <a href=\"https:\/\/twitter.com\/realMatrixport\/status\/1727907090520490333?ref_src=twsrc%5Etfw\">November 24, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Analysts called this event a &#8220;turning point&#8221; for the crypto industry.<\/p>\n<p>On November 21, the company <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-to-pay-50-million-under-u-s-doj-settlement\">agreed<\/a> to pay $4.3 billion to <span data-descr=\"US Financial Crimes Enforcement Network\" class=\"old_tooltip\">FinCEN<\/span> and <span data-descr=\"Office of Foreign Assets Control, U.S. Department of the Treasury\" class=\"old_tooltip\">OFAC<\/span>, Changpeng Zhao <a href=\"https:\/\/u1f987.com\/en\/news\/media-changpeng-zhao-to-step-down-as-binance-to-pay-4-3-billion-in-penalties\">stepped down<\/a> as CEO and <a href=\"https:\/\/u1f987.com\/en\/news\/binance-founder-changpeng-zhao-released-on-175-million-bond\">put up a $175 million bond<\/a> to stay free. <\/p>\n<p>According to experts, the fine could have reached $10 billion, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/analysts-weigh-binance-prospects-after-deal-with-us-authorities\"> place among the largest crypto exchanges<\/a> in the next two to three years.<\/p>\n<p>In light of the news, Bitcoin slipped into a temporary correction, but bounced off $36 000, confirming a strong trend in which a rise above $40 000 appears &#8220;inevitable,&#8221; according to experts.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWe expect the price to exceed $38 000 by the end of November with an 80% probability, followed by a rise above $40 000 in December with 90%.\u201d<\/em> \u2014 the document states.<\/p>\n<\/blockquote>\n<p>Based on the chart below, analysts expect a rise to $45 000.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-840.webp\" alt=\"1-840\" class=\"wp-image-220775\"\/><figcaption class=\"wp-element-caption\">Data: Matrixport.<\/figcaption><\/figure>\n<p>The driver will be the expectation of approval for the spot Bitcoin <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-cryptocurrency-etf\">ETF<\/a>. Additionally, seasonality supports it \u2014 in the last month of the year, digital gold tends to rise on average by 12%. A positive signal is also the <a href=\"https:\/\/u1f987.com\/en\/news\/tether-issues-4-billion-usdt-in-the-past-month\">growth in Tether&#8217;s market capitalization<\/a> by $5 billion in recent weeks, suggesting inflows from institutional funds.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201c600 million <\/em><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-tether-usdt\"><em>USDT<\/em><\/a><em> issued on the eve after the Binance\/CZ deal, which increased the odds of ETF approval by January\u201d,<\/em> analysts noted.<\/p>\n<\/blockquote>\n<p>The first cryptocurrency continues to be supported by the macroeconomic backdrop. Matrixport expects inflation to ease to 1.6% and yields on 10-year US Treasuries to 2.6% by 2024\u20132025. An improvement in US Treasuries will lead to a sharp rise in the stock market, which often correlates with digital assets, the analysts added.<\/p>\n<p>Earlier, JPMorgan noted the positive effect of the Binance deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin could surpass $40 000 by year-end after the US authorities settle their claims against Binance and its former CEO Changpeng Zhao, Matrixport said.<\/p>\n","protected":false},"author":1,"featured_media":87458,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,18,1145,1138],"class_list":["post-87457","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-bitcoin","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87457","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=87457"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87457\/revisions"}],"predecessor-version":[{"id":87459,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87457\/revisions\/87459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87458"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87457"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87457"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87457"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}