In October last year, Matrix on Target predicted the price trajectory of BTC for its fifth bull market. The model forecast indicated that BTC would rise from $22,500 in late January 2023 to $45,000 by the end of the year, representing a +100% increase. Then, a pullback below $40,000 was expected 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 forecasted halving price level of $63,130, although the timing of the halving occurred later than initially expected. Currently, BTC's 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 new highs 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 annual rate of the U.S. Core PCE Price Index for September recorded 2.7%, unchanged from the previous month, while the monthly rate rose by 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% as support, 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%, a shift from a week ago when Trump led Harris with a support rate of 50% to 46%.
The above opinions are sourced from Matrix on Target, Contact Us_ for the complete report from Matrix on Target._
Disclaimer: The market carries risks, and investment should be approached with caution. This article does not constitute investment advice. Trading in digital assets may involve significant risks and volatility. Investment decisions should be made after careful consideration of personal circumstances and consultation with financial professionals. Matrixport is not responsible for any investment decisions made based on the information provided herein.
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