Bitcoin Price Outlook: Matrixport Predicts $116,000 Surge Amid Seasonal Market Challenges

Key Points

1. Matrixport's analysis confirms Bitcoin's potential rise to $116,000, supported by recent market movements.

2. August and September historically show weak Bitcoin returns, leading to potential short-term consolidation.

3. Upcoming US market events, such as earnings disclosures, may influence Bitcoin's volatility.

4. Despite seasonal headwinds, Matrixport maintains a bullish outlook for Bitcoin in 2023.

5. Traders should monitor key market events and prepare for short-term volatility while staying confident in the long-term bullish trend.