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10xResearch: Bitcoin Will Celebrate the New Year at These Peaks!

10xResearch: Bitcoin, Yeni Yılı Bu Zirvelerde Kutlayacak!
10xResearch: Bitcoin, Yeni Yılı Bu Zirvelerde Kutlayacak!
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10x Research analysts predict that Bitcoin will reach these peaks by the new year. Analysts say that institutional interest, market signals and Bitcoin dominance will play a role in this run of BTC. In this context, analysts explain the reasons for their BTC forecasts.

10x Research: Bitcoin could enter the new year with $ 100,000!

Crypto research firm 10x Research’s $ 100,000 Bitcoin forecast is based on its model, which recently triggered two buy signals, the latest on 14 October. According to analysts, the prediction model has an accuracy rate of 86.7% based on the last 15 signals. Researchers explain their reasoning for the optimistic Bitcoin forecast as follows:

When BTC sets a new six-month high for the first time in 6 months, as it has done recently, we usually see a median return of 40% over the next 3 months.

Bitcoin buy signal. Source: 10x Research

According to these calculations, a 40% jump from the current market price of $73,000 would take BTC above $101,000 by 27 January 2025. Another factor supporting the theory is the ‘Bitcoin black hole effect’. This factor implies that the growing BTC dominance is shifting value away from altcoins.

Institutional investors will support BTC’s bull run

Meanwhile, institutional investors such as BlackRock now see BTC as a long-term stable asset. In the 10x Research report, ‘Gold has always been recognised as a safe-haven asset. Therefore, if BTC is the new digital gold, it makes sense for institutions to be interested.’ As you follow from Kriptokoin.com, spot Bitcoin ETFs received $4.1 billion worth of BTC in October alone. Moreover, the general crypto investor also believes that holding BTC for the long term is valuable. Moreover, significant investments in BTC have pushed up the stock prices of BTC mining companies.

Spot Bitcoin ETF monthly flows. Source: 10x Research

Short-term performance of the leading altcoin is possible!

10x Research also predicts that Donald Trump will win the 2024 United States presidential election. It predicts that this will positively affect the crypto market.

Meanwhile, the upcoming rules will allow companies to report their Bitcoin holdings at current market prices. It will also incentivise more businesses to include crypto in their portfolios. In contrast, 10x Research has a bearish outlook for Ethereum due to low returns over the past two years. As a result, the report is optimistic about short-term rallies for Ethereum. However, it is sceptical about its long-term prospects for Ethereum unless innovations change a stagnant trajectory.

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10xResearch: Bitcoin Will Celebrate the New Year at These Peaks!
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