TechFlow reported that Matrixport, a cryptocurrency service provider, predicts the price of Bitcoin could reach $56,000 by the end of this year.
Markus Thielen, Head of Research and Strategy at Matrixport, said in a report sent to clients on Thursday that there is a 71% probability Bitcoin will rise at least 100% by year-end, with an average expected gain of 65%. Thielen added that Bitcoin typically peaks around December 18, making the six to seven weeks from early November to mid-December what he calls the "Santa Rally" period for Bitcoin.




