Last October, Matrix on Target predicted the price trajectory of BTCs fifth bull run. The model predicts that BTC will rise from $22,500 in late January 2023 to $45,000 by the end of the year, an increase of +100%. Then there will be a correction below $40,000 in early January 2024, and then climb to $63,130 in March, then fall to a low of $50,000 in the summer, and finally rise to $125,000 in a parabolic pattern.
After fact checking, the BTC price is only 3% away from the target of $45,000 predicted by Matrix on Target, and less than 1% away from the predicted halving price level of $63,130, but the halving occurred later than originally expected. At present, the BTC price trend is relatively close to the previous prediction. Although it has not yet reached the target of $125,000, according to the current market development, BTC may reach a new high by the end of 2024 or 2025, and the high may not reach the target of $125,000 at once.
The core PCE price index rose 0.3% month-on-month in September, and the Federal Reserve may take a cautious approach to rate cuts
The U.S. core PCE price index recorded an annual rate of 2.7% in September, unchanged from the previous month. The U.S. core PCE price index recorded a monthly rate of 0.3% in September, rebounding from the previous month (0.2%). The PCE inflation index saw its largest monthly increase since April, supporting the Feds slowing pace of interest rate cuts after a sharp cut last month. Consumer spending adjusted for inflation increased by 0.4%, supported by a 0.1% increase in real income. The savings rate fell to 4.6%. The data indicates that the Fed will be cautious in cutting interest rates in the coming months.
The latest poll data is released, Harris leads Trump by a narrow margin of 1%
According to Forbes, a recent poll shows that US Vice President and Democratic presidential candidate Harris leads former US President and Republican presidential candidate Trump by only 1%, but 10% of voters may change their minds before the election. In the seven key swing states that may determine the final winner of the election, Harris leads Trump by 49% to 48%, while a week ago, Trump led Harris by 50% to 46%.
Some of the above views come from Matrix on Target. Contact us to obtain the full report of Matrix on Target.
Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Digital asset trading can be extremely risky and unstable. Investment decisions should be made after carefully considering personal circumstances and consulting financial professionals. Matrixport is not responsible for any investment decisions based on the information provided in this content.
