Matrixport Research: BTC New High May Arrive by Year-End or in 2025
The market shows a clear long-term bullish sentiment. Will new highs be reached before the end of the year?Last October, Matrix on Target predicted the price trajectory of BTC for the fifth bull market. The model's forecast data indicated that BTC would rise from $22,500 in late January 2023 to $45,000 by the end of the year, an increase of +100%. Then, there would be a pullback below $40,000 in early January 2024, followed by a climb to $63,130 in March, a drop to a low of $50,000 in the summer, and finally a parabolic rise to $125,000.
Fact-checking shows that the BTC price was only 3% off from Matrix on Target's predicted target of $45,000, and less than 1% off from the predicted halving price level of $63,130, although the timing of the halving occurred later than initially expected. Currently, the BTC price trend is relatively close to previous predictions; although it has not yet reached the target of $125,000, based on current market developments, BTC may reach a new high by the end of 2024 or in 2025, and the peak may not hit the $125,000 target in one go.
September Core PCE Price Index Monthly Rate Rises 0.3%, Fed May Take Cautious Rate Cut Approach
The U.S. September core PCE price index year-on-year recorded 2.7%, unchanged from the previous month, while the monthly rate for September was 0.3%, rebounding from last month's 0.2%. The PCE inflation indicator saw its largest monthly increase since April, supporting the Fed's decision to slow down rate cuts after a significant reduction last month. With real income growth of 0.1%, inflation-adjusted consumer spending increased by 0.4%. The savings rate fell to 4.6%. This data suggests that the Fed will take a cautious approach to rate cuts in the coming months.
Latest Poll Data Released, Harris Leads Trump by a Slim 1%
According to a report by Forbes, a recent poll shows that U.S. Vice President and Democratic presidential candidate Harris leads former President and Republican presidential candidate Trump by a slim 1%. However, 10% of voters may change their minds before the election. In seven key swing states that could determine the final election winner, Harris leads Trump with a support rate of 49% to 48%, while a week ago, Trump led Harris with a support rate of 50% to 46%.
