Bitcoin (BTC) Price Increases by 6% to Exceed $106K, Target Set at $120K
Bitcoin (BTC) rose 6% today, exceeding $106,000, as investors anticipated a Christmas rally. MicroStrategy’s inclusion in the Nasdaq 100 index and expectations of Donald Trump’s strategic Bitcoin reserve were influential in today’s rise. Markus Thielen, founder of 10x Research, predicted that BTC could reach $120,000 before Trump takes office.$BTC
Bitcoin Could Be $120,000 in January 2025!
Markus Thielen stated that he expects Bitcoin to reach $120,000 before Donald Trump takes office, that is, by January 20, 2025. Thielen stated that there were large BTC outflows from centralized exchanges (CEX) last week and that this created constant supply pressure on the Bitcoin price.
Thielen also noted that MicroStrategy’s inclusion in the Nasdaq 100 index could increase the company’s likelihood of buying more Bitcoin, and the Financial Accounting Standards Board’s (FASB) adoption of new fair value accounting standards for cryptocurrencies could strengthen institutional Bitcoin adoption. He also noted that these factors could fuel Bitcoin’s year-end rally.
New Trading Signal For Bitcoin: Targeting $120K
Thielen said that they received a new trading signal for Bitcoin, and that this signal indicates that BTC could rise to $120,000 by Trump’s inauguration on January 20, 2025. He stated that this signal, based on the accuracy of trading models, should be seriously evaluated by investors (10 out of 12 successful signals).
Thielen also cited three key catalysts: MicroStrategy’s inclusion in the Nasdaq 100, Microsoft’s proposal to accept Bitcoin as a treasury asset, and the FASB’s accounting rules regarding fair value reporting of crypto assets. These three developments are among the factors that will contribute to Bitcoin’s rise.
