In today’s cryptocurrency news, Matrixport, a cryptocurrency trading firm co-founded by Bitmain’s Wu Jihan, has reiterated its Bitcoin price prediction of $45,000 by the end of 2023. This prediction was initially made earlier in 2023 and was further reinforced in a recent blog post.
Matrixport had earlier provided accurate Bitcoin price predictions, including predicting a surge in the Bitcoin market in October. The firm attributes this surge to the excitement surrounding potential approvals of a spot Bitcoin exchange-traded fund (ETF). Additionally, Matrixport pointed out that October has historically been the strongest month for Bitcoin with an average return of 20%.
Meanwhile, the crypto community has been closely monitoring the Depository Trust and Clearing Corporation’s (DTCC) website for updates on a spot Bitcoin ETF. There was a brief period of chaos when the ticker for BlackRock’s ETF vanished from the site before reappearing a few hours later. This resulted in a nearly 3% drop in Bitcoin’s price.
In other news, Binance and its CEO, Changpeng “CZ” Zhao, are seeking to dismiss a lawsuit filed by the United States Commodity Futures Trading Commission (CFTC). The lawsuit alleges that Binance violated derivatives trading rules by failing to register with the regulator.