A Matrixport representative said that by the end of November bitcoin will exceed $38,000 with a probability of 80%, and in December it will reach $40,000 with a probability of 90%

BestChange
2 min readNov 27, 2023

Matrixport analyst Markus Thielen believes that the rate of the first cryptocurrency will rise to $40,000 after an agreement between Binance’s top management and the US government. Previously, the CEO of the company, Changpeng Zhao, was detained, but then the court released him on bail.

The exchange will pay the American authorities $4.3 billion for violating the law, and Zhao himself left his post as CEO of Binance. Against the backdrop of this event, the capitalization of the crypto market decreased, and then recovered, and, as Thielen believes, will continue to grow.

The analyst considers the agreement between Binance and the Ministry of Justice a positive outcome for the digital asset industry. Thielen expressed confidence that by the end of this year the price of Bitcoin will overcome the $40,000 mark.

“We expect an 80% probability that Bitcoin will exceed $38,000 by the end of this month, and a 90% probability that it will rise to $40,000 in December,’” said the Matrixport analyst.

On the night of November 25, the cost of the main cryptocurrency already exceeded $38,000, but then the price of BTC fell to $37,800.

Jim Cramer, the host of CNBC’s Mad Money, has changed his view of Bitcoin to a more positive one. He stated that many of his predictions regarding BTC turned out to be wrong.

Cramer noted that any person who prefers the first crypto coin is obliged to increase their investment in the asset. Prior to this, the famous TV presenter spoke out against BTC, advising investors to get rid of cryptocurrencies, regardless of their value.

The consultant publicly admitted that he had previously been wrong about Bitcoin and had given out advice about the cryptocurrency prematurely.

“Look, if you like Bitcoin, buy Bitcoin. That has always been my view. And for a while, I liked it, and I decided that money had been made, but I was premature,” Cramer said.

What do you think about this?

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