Bitcoin (BTC) reached a high of $31,000 but has since corrected to $30,500, consolidating above this level. Experts believe that the current bull run is far from over and predict further gains for BTC. Matrixport researcher Markus Thielen has made accurate predictions about BTC’s price, including a forecast of $29,000 by 2023 based on an inflation model. Matrixport now suggests that BTC could rally towards $45,000 by the end of the year. July has historically been a strong month for Bitcoin, with positive returns in seven of the last 10 years. Thielen expects BTC to increase by 10-20% in the next 30 days and reach $33,000 to $36,000 by August. The expected approval of Bitcoin ETFs could attract more US institutions and retail investors to the cryptocurrency space. Despite a recent correction, BTC’s trend is still higher, and Matrixport maintains a price target of $45,000 for the end of 2023. BTC’s current price suggests a possible slowdown, but its recent gains indicate bullish momentum. A significant correction may be necessary to meet Matrixport’s price targets. BTC is currently trading at $30,500, with modest declines in the last 24 hours but substantial gains over the past seven and 14-day periods.
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