Matrixport, the cryptocurrency company of the famous Chinese billionaire Jihan Wu, gave a price target of $ 37 thousand for the end of the year, while expecting a rise in Bitcoin (BTC) in October.

A report published by Matrixport on Wednesday, September 20, included the historical performance of Bitcoin in October. The company stated that the fourth quarters, especially October, were largely positive for Bitcoin.
The report emphasized that the Bitcoin price was historically very strong in the last quarter and provided an average return of over 35%. It was also stated that 7 of the 9 years in October closed positively and experienced an average increase of 20%.
Using this data from the past, the report underlined that Bitcoin could reach $ 37,000 by the end of 2023 if history repeats itself. Matrixport Research Manager Markus Thielen drew attention by directly stating the following:
On the other hand, in the technical analysis prepared by Matrixport, it was stated that Bitcoin recently gave a breakout signal. According to the data, the last time such a signal came, Bitcoin rose by 9% in a short time.
However, the report stated that the US Securities and Exchange Commission (SEC) may make its decision on spot Bitcoin ETF applications in October and that this situation will be a serious catalyst, and also took into account the possibility of postponing the decision.
In its previous short-medium-long term price forecast for Bitcoin, Matrixport had given the target price for the end of the year as $63,000.
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