Bitcoin well-positioned to hit $100K by January 2025 — 10X Research

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As a seasoned crypto investor with over a decade of experience navigating the volatile waters of the digital asset market, I find the 10X Research prediction for Bitcoin hitting $100,000 by January 2025 to be an exciting possibility. However, I’ve learned the hard way that even the most accurate models can’t predict the unpredictable nature of crypto prices.

10X Research anticipates that current market patterns and future worldwide happenings could possibly drive the value of Bitcoin up to $100,000 by January 2025.

10X Research’s Bitcoin (BTC) $100,000 price forecast is rooted in a model that has just generated two buy signals, the latest one occurring on October 14th. This model, as per 10X Research, boasts an impressive accuracy of approximately 86.66% over its last 15 signals.

The researchers explained their reasoning for the optimistic Bitcoin prediction:

“When Bitcoin sets a new six-month high for the first time in 6 months like it did recently, we typically see a median return of 40% over the next 3 months.”

Based on the given calculations, an increase of approximately 40% in the current market value of Bitcoin ($73,000) could drive its price above $101,000 by January 27th, 2025.

As an analyst, I find another compelling argument for the proposed theory lies within the “Bitcoin Black Hole Effect.” This phenomenon suggests that as Bitcoin’s dominance continues to expand, it draws value away from alternative cryptocurrencies (altcoins), making them less attractive compared to the market leader.

Institutional investors to support Bitcoin bull run

Furthermore, prominent institutional investors like BlackRock are now viewing Bitcoin as a potential long-term investment with stability characteristics similar to gold in the digital realm. According to the 10X Research report, this perspective is increasingly common.

“Gold has always been seen as a safe haven asset, so if Bitcoin is the new digital gold, it makes sense that institutions would be interested.”

In October alone, the market for Bitcoin exchange-traded funds (ETFs) amassed a total of approximately $4.1 billion in Bitcoin investments. Furthermore, it’s evident that many long-term crypto investors find merit in maintaining holdings of Bitcoin.

As a researcher, I’ve observed an interesting trend: Investments heavily poured into Bitcoin (BTC) have simultaneously boosted the share prices of Bitcoin mining companies. This correlation, which I had anticipated based on my findings at 10X Research, seems to be holding true.

Ethereum could perform short-term

10X Research anticipates that Donald Trump might secure victory in the 2024 U.S. presidential election, potentially boosting the cryptocurrency market.

Forthcoming reporting guidelines will enable firms to disclose their Bitcoin assets at current market values, potentially spurring an increase in the number of companies incorporating cryptocurrency into their investment portfolios.

10X Research predicted a pessimistic view on Ether (ETH), primarily due to decreased returns or yields during the past two years.

Consequently, the analysis predicted positive short-term surges for Ether, yet it expressed caution regarding its long-term outlook unless any groundbreaking advancements alter its current flat trend.

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2024-10-30 13:47