Researchers of the analytical company Matrixport published a series of tweets. In them, they talked about the impact of macroeconomic situation on exchange rate of the flagship cryptocurrency Bitcoin (BTC). Experts have given a forecast of BTC quotes in the amount of $45,000 by the end of 2023.
The researchers stressed that the data on the current level of inflation in the United States has become a gift for the cryptocurrency market. Analysts said that they had made a macro forecast for 2023 and so far everything was going according to plan. Based on the predictions of experts, the quotes and the projected target price for the end of the year for BTC by now should be at the level of $24,965, which is quite close to real values.
According to experts, users should expect a price rally to $45,000 by December 2023. Based on the Matrixport inflation model, its level will fall to 2-3% this year, which will allow the markets to revive.
Analysts noted that it is necessary to focus more on technical levels. According to experts, the Bitcoin exchange rate has retested its 200-day moving average (SMA). This is a sign of a bullish rally. According to analysts, the coin is at the “price bottom” and now is the time for purchases.
They assured that in the near future the $25,000 mark will be overcome. The next resistance level is at $28,000, which will be “taken” by May 2023. Experts added that the bitcoin exchange rate will not grow constantly. Market events will be accompanied by volatility.
Analytics recommended investing in cryptocurrency, as uncertainty with the banking sector puts human capital at risk. The researchers stressed that the dominance of Bitcoin clearly shows that this asset is becoming more and more high-quality and reliable.