$BTC 10x Research analyst allowed the Bitcoin rate to rise to $70 thousand by the end of 2024. Markus Thielen called investments of institutional investors in Bitcoin ETFs a catalyst for its further growth. Markus Thielen from 10x Research allowed the Bitcoin price to grow to $70 thousand by the end of 2024, writes CoinDesk. citing a 10x Research report. The analyst believes that the growth of the exchange rate will be the first

Cryptocurrencies will be driven by the macroeconomic environment, monetary policy, the US election cycle and traditional financial industry investors investing in Bitcoin ETFs. “While the Fed has delayed its first rate cut until May or June, inflation is falling and the economy continues to grow,” Thielen wrote in his report. He also noted the coincidence of US presidential election cycles with Bitcoin halving years, which have historically contributed to price increases. In particular, Bitcoin grew by 152% in 2012, by 121% in 2016 and by 302% in 2020, for an average of 192%. Speaking about the sluggish price dynamics this year, Thielen notes that despite the overall positive dynamics only in 7 cases out of 13 January results.were profitable for Bitcoin.