Matrixport, in a recent report, surprised many market participants by predicting a strong recovery for Bitcoin by the end of the year. According to the firm, historical trends point to a significant rebound in the coming months.
Matrixport: Bitcoin Likely to See Strong Recovery by Year-End
The report highlighted that Bitcoin has been in a consolidation phase after reaching an all-time high in March 2024. However, since the beginning of the year, Bitcoin has returned 49%, a figure close to the historically predicted 47% gain. Matrixport suggests that if this historical trend continues, there is a high probability of a significant price recovery by early October.
The report also indicated that the next few weeks and months could bring exciting changes to the crypto asset market.
Ethereum’s Mining Fees Show Recovery Signals
In addition, the slight recovery in Ethereum mining fees could be a sign that the summer consolidation phase for crypto assets is coming to an end. Matrixport emphasized the importance of closely monitoring Ethereum revenues and mining fees to assess whether the recovery momentum is sustainable.
