Bitcoin Price Rally to Breach $50,000 This Month: Matrixport
Matrixport CEO has predicted that Bitcoin price rally this month will breach $50,000 USD. The leading digital asset has gained an impressive 30% in the past month and is currently trading around $45,000 USD.
In an interview with Financial Times, Xiao Feng, CEO of Matrixport, said that the recent rally shows the increasing institutional interest in bitcoin. According to him, the increase in institutional investors has changed the market landscape dramatically. As a result, it has helped to create a more reliable and resilient market.
Xiao Feng further added that the rising institutional demand will help push Bitcoin’s price further this month. He projected that the total market capitalization of Bitcoin will reach $1 trillion in the near future.
Additionally, Xiao Feng believes that the increased institutional investment in the cryptocurrency space will help deepen its liquidity and improve its risk-adjusted returns. Finally, he asserted that the cryptocurrency market will continue to be a lucrative investment even after the current Bitcoin rally ends.