Originally published on: October 30, 2024
Leading crypto research firm 10x Research has made an exciting prediction that Bitcoin’s market price could skyrocket to $100,000 by January 2025, driven by current market trends and upcoming global events.
According to the researchers at 10x Research, their prediction model has recently indicated two buy signals, the most recent one occurring on October 14. With an impressive track record of 86.7% accuracy based on the last 15 signals, the firm is confident in its forecast.
One of the key factors supporting this bullish outlook is the potential for a 40% increase from the current market price of $73,000, which would push Bitcoin above the $100,000 mark by January 2025.
Additionally, the researchers pointed to the “Bitcoin black hole effect,” suggesting that Bitcoin’s increasing dominance is drawing value away from alternative cryptocurrencies. Institutional investors, including giants like BlackRock, are also viewing BTC as a stable long-term asset, contributing to the positive sentiment surrounding Bitcoin.
The influx of $4.1 billion worth of BTC into the spot Bitcoin exchange-traded funds (ETF) market in October alone further underscores the growing interest in holding BTC for the long term.
In contrast, 10x Research has a bearish outlook for Ether, citing lower yields over the past two years. While short-term rallies may be possible for Ether, the researchers are cautious about its long-term prospects unless significant innovations alter its current trajectory.
As the crypto market continues to evolve, the upcoming regulatory changes allowing companies to report their Bitcoin holdings in real-time market prices could further fuel adoption and investment in crypto assets.
With a positive outlook for Bitcoin and potential market-shifting events on the horizon, investors are eagerly watching the crypto landscape unfold. Subscribe to the Markets Outlook newsletter for more updates and insights to navigate the ever-changing world of crypto investments.
