According to Matrixport analyst Markus Thielen, Bitcoin will rise to $40,000 after an agreement between the management of the Binance cryptocurrency exchange and the American authorities.

This week, the head of the largest crypto exchange Binance was detained in the United States, but the management of the site managed to reach an agreement with American law enforcement officers. The exchange paid US authorities $4.3 billion for violations of various regulatory standards, and Changpeng Zhao agreed to step away from managing the platform. The market reacted with a short-term decline in capitalization, but soon recovered, and, according to Markus Thielen, will now continue to grow.

Thielen himself has already said that the agreement between Binance and the US Department of Justice is a positive outcome for the cryptocurrency industry. Now he is confident that by the end of the year the rate of the first cryptocurrency will exceed $40,000.

“We believe that by the end of November Bitcoin will exceed $38,000 with a probability of 80%, and in December it will reach $40,000 with a probability of 90%,” said the Matrixport analyst.

Note that the rate of the first cryptocurrency already exceeded $38,000 on the night of November 25, but then decreased slightly to $37,800.

Earlier, Bits.Media published a large-scale article about the impact of the agreement between Binance and the US authorities on cryptocurrency rates.