Bitcoin price is expected to reach $ 125,000 by the end of next year: Matrixport

• Bitcoin (BTC) due to the institutional introduction at the end of 2024 could increase to a maximum of $ 125,000, according to a report by Matrixport.
• The Bitcoin price forecast of the crypto service provider takes place against the background of the increase from BTC to $ 35,000.
• Spot-bitcoin ETF approval could be one of the catalysts of the bull market.

The jump from Bitcoin to over $ 35,000 this week was in the middle of the recent spot bitcoin ETF expectations of the cryptom market. As a result, the flagship cryptocurrency may have printed the first weekly green candle in a row since the end of July/early August when it reached deep stalls of $ 24,900 in September.

BTC has clearly withdrawn from the $ 35,000 mark and is fighting to rise over $ 33.5,000 on Friday afternoon, October 27th.

What could drive the Bitcoin price to $ 125,000?

While some analysts say that the cryptocurrency could try to test important support levels again, the Matrixport crypto service platform in a new Bitcoin price forecast says that the benchmark cryptocurrency could increase to $ 125,000.

The platform said in its latest version Research report Institutional interest and potential price catalysts such as Spot ETFs show the key to price increases.

" The fifth bull market for Bitcoin is in progress and is determined by institutional interest and a rapid price. This cycle began on June 22, 2023 with a new one-year high and historically led to impressive returns. Rel = "Nofollow Noopener" Target = "_ blank" href = "https://twitter.com/realmatrixport/status/1717819600530"> Post on X.