TechFlow news, on August 23, Matrixport released a weekly report suggesting that the Bitcoin market may be facing a significant turning point. The firm recommends using sophisticated macro-quantitative tools to forecast Bitcoin's trajectory, rather than relying solely on the stock-to-flow model.
The report emphasizes that with changing macroeconomic conditions, the cryptocurrency market may be entering a period of high volatility. Several key financial market indicators are approaching critical support levels, signaling that a major turning point could be near. The U.S. election and related policy uncertainties will also influence market direction.
Matrix on Target, which accurately predicted Bitcoin’s 2022 bottom and the pre-halving peak, indicates that the halving event not only affects mining rewards but also marks the midpoint of a bull market. The report specifically notes that when bond yields rise alongside a rebound in gold prices, Bitcoin could become a primary beneficiary asset.
