Matrixport Stands By $45K Bitcoin Price Prediction for 2023 Despite Recent Volatility

Matrixport predicted in January that Bitcoin could hit $45,000 by end of 2023. It reiterated this prediction in October after Bitcoin hit 17-month highs.

The firm's September report successfully predicted significant Bitcoin price action in October due to ETF excitement.

Matrixport said Bitcoin breaking above $31,500 in July shows $45,000 is achievable by year-end.

The firm pointed out that October is historically the strongest month for Bitcoin returns.

Matrixport's analysis is based on a proven investment process that's been successful this year.