Matrixport Predicts: Bitcoin to Reach $50,000 in January, Altcoin Season Could Be Approaching

Matrixport Predicts: Bitcoin to Reach $50,000 in January, Altcoin Season Could Be Approaching

Matrixport Predicts: Bitcoin to Reach $50,000 in January, Altcoin Season Could Be Approaching

According to a previous report by Zombit, CryptoQuant, a blockchain data analysis company, believes that the market may experience a “Sell The News” situation, predicting that if a Bitcoin spot ETF is approved in January, the Bitcoin price may pull back to $32,000. However, Matrixport believes that the approval of the ETF is unlikely to become a Sell The News event, as the approval of the ETF will make Bitcoin a legitimate asset class for institutional investment portfolios and can be used as collateral to purchase other assets.