According to Matrixport analyst Markus Thielen, the Bitcoin rate is predicted to reach $40,000 by the end of 2023 thanks to Binance’s agreement with US authorities.
This agreement, which includes Changpeng Zhao stepping down as CEO and a payment of $4.3 billion in fines, is expected to bring back capital to the digital currency market.
Despite a short-term decrease in digital currency market capitalization, investors have not been deterred and funds quickly returned to the Binance exchange.
Thielen predicts that by the end of November, Bitcoin will surpass $38,000, with an 80% chance of this occurring. Furthermore, he believes that by December, Bitcoin will reach $40,000 with a 100% probability.
