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Bitcoin to Reach $45,000 by the End of the Year, According to Crypto Expert

Bitcoin to Reach $45,000 by the End of the Year, According to Crypto Expert

This week has been extremely volatile for Bitcoin as the cryptocurrency is making wide swings from $27,000 to $30,000.

Colin Wu, a blogger and cryptocurrency journalist from China, has reported that Markus Thielen, the chief researcher of Matrixport, believes that Bitcoin may reach $45,000 by the end of the year.

Thielen explained that according to the “CPI/FOMC road map” suggested by the company in February, the current position of the BTC price is “exactly where it should be.”

He also expects the higher path to continue and suggested buying BTC at the fair value of $27,000-$27,500.

Thielen believes inflation will likely create a major tailwind for risk assets, including Bitcoin.

READ MORE: Bitcoin: Technical Indicators Suggest Price Could Be Mimicking 2015 Cycle

Meanwhile, Santiment, an on-chain data aggregator, tweeted that despite the recent pullback, the percentage of social media discussions about BTC is still above average, indicating market euphoria or fear.

Bitcoin has recently risen by 5.6% over the past 24 hours, reaching $28,854.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

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