$BTC could reach $100,000 by January 2025 thanks to favorable macroeconomic conditions, according to 10x Research!
Tonight (30/10), the cryptocurrency research company 10x Research released a notable report on the price trend of BTC (Bitcoin) for the end of 2024 and the beginning of 2025.
According to analysts from 10x Research, history shows that each time the BTC price reaches a six-month high, we typically see BTC increase by an average of 40% in the following three months.
Considering these calculations combined with the company's own predictive models, 10x Research believes BTC could reach $101,000 on January 27, 2025 - an increase of 40% from the current level of $72,000.
Another model developed and created by 10x Research recently issued a buy signal on October 14, when BTC was trading around the $63,000 mark. 10x Research stated that this predictive model has an accuracy rate of up to 86.7% based on the last 15 signals.
10x Research also points out that institutional investors like BlackRock have significantly contributed to the growth of BTC recently.
The report from 10x Research states: "Gold has always been considered a safe-haven asset, so if Bitcoin becomes the new digital gold, it is understandable that institutions are interested in it."
Just in October alone, Spot BTC ETF funds have brought in over $4.1 billion in capital. Shares of Bitcoin mining companies have also surged in the past month.
10x Research also predicts that Donald Trump will win the 2024 U.S. presidential election, which could positively impact the cryptocurrency market.
10x Research believes that upcoming regulations will allow companies to report the amount of Bitcoin they hold at current market prices and encourage more businesses to incorporate cryptocurrency into their investment portfolios.
As of the time of writing, the price of BTC (Bitcoin) is trading around $71,900, remaining relatively stable over the past 24 hours. BTC has approached its all-time high (ATH), but then faced strong profit-taking pressure at the peak.
Capital is regarded by many investors as "Digital Gold"; BTC's price has shown a significant correlation with Gold's price recently. While BTC is close to its ATH, Gold has even broken its ATH multiple times and is currently holding at $2,778.
Gold and Bitcoin are surging ahead of the U.S. presidential election scheduled for next week (11/05). A series of monetary easing policies from leading countries like the U.S. and China are also contributing to capital flowing into investment markets such as Gold, Stocks, and Crypto.
