Matrixport surprised many market participants in a report released today by stating that Bitcoin is likely to recover by the end of the year.
Matrixport: Bitcoin Could Experience a Strong Rebound by the End of the Year
The report stated that Bitcoin entered a consolidation period after reaching an all-time high in March 2024, but its return has reached 49% since the beginning of 2024. This rate is quite close to the 47% return estimated in light of historical data.
Matrixport said that considering Bitcoin’s performance over the past decade, there is a high probability of a significant recovery in prices in early October if this historical trend continues.
The report predicts that the coming weeks and months will be full of exciting changes for the crypto asset market.
Additionally, the slight recovery in Ethereum mining fees could be an indication that the crypto asset’s summer consolidation phase is coming to an end.
The Matrixport report emphasized that Ethereum revenues and mining fees should be monitored carefully, touching on the importance of analyzing whether the recovery momentum is sustainable.
*This is not investment advice.