Crypto research firm 10x Research has forecasted a potential surge in Bitcoin’s market price to $100,000 by January 2025, driven by current market trends and major global events.
10x Research’s price target relies on its predictive model, which has recently issued two buy signals, the latest on Oct. 14. The firm noted an impressive 86.7% accuracy rate in its model’s last 15 signals. Explaining their optimism, the researchers stated: “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 this metric, a 40% rise from Bitcoin’s current price of around $73,000 would place it above $101,000 by Jan. 27, 2025.
Another factor behind this prediction is the “Bitcoin black hole effect,” where increasing Bitcoin dominance absorbs value from altcoins. Additionally, institutional interest is reinforcing Bitcoin’s bull run. Firms like BlackRock view Bitcoin as a stable long-term asset, similar to digital gold. “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,” the report noted.
October alone saw $4.1 billion invested in spot Bitcoin exchange-traded funds (ETFs), reflecting a growing interest from investors who view BTC as a long-term hold.
Furthermore, 10x Research anticipates a bullish impact on Bitcoin should Donald Trump win the 2024 U.S. presidential election, a prediction they believe would stimulate crypto markets. New accounting standards allowing firms to report Bitcoin holdings at current market value may encourage further business adoption of crypto.
While 10x Research is optimistic about short-term gains for Ether, its report strikes a cautious tone for the asset’s long-term outlook, citing low yields over recent years and the need for technological innovation to shift Ethereum’s current trajectory.
