Is Bitcoin set to break the £100,000 barrier? 10X Research's latest prediction sparks heated discussion!

According to 10X Research's analysts, Bitcoin (BTC) is expected to soar to £100,000 in January 2025, driven by sustained interest from institutional investors, enhanced market signals, and an increase in Bitcoin's dominance.

This prediction is based on current market trends and upcoming global events. 10X Research's model recently triggered two buy signals, the latest on October 14, with an accuracy rate of 86.7% based on the past 15 signals. Researchers noted: "When Bitcoin first hits a new six-month high within six months, the average return over the next three months typically reaches 40%." Based on this calculation, the price of BTC is expected to rise 40% from the current £73,000, surpassing £101,000.

Additionally, the "Bitcoin black hole effect" is also considered a key factor supporting this theory, indicating that Bitcoin's dominance is suppressing the value of altcoins. Institutional investors like BlackRock are viewing BTC as a long-term stable asset, further driving its price up.

It is worth mentioning that the spot Bitcoin ETF market brought in as much as £4.1 billion in capital inflows just in October, while cryptocurrency investors generally remain optimistic about the long-term value of holding BTC, which has led to a concurrent rise in the stock prices of Bitcoin mining companies.

In contrast, 10X Research holds an optimistic view on the short-term performance of Ethereum (ETH), but the long-term outlook remains relatively pessimistic. Due to the decline in returns over the past two years, concerns still exist regarding Ethereum's potential for future growth.

Overall, with the introduction of new regulations allowing companies to report their Bitcoin holdings at market prices, more businesses may incorporate cryptocurrencies into their portfolios, and if Donald Trump wins the 2024 presidential election, it could have a positive impact on the crypto market.

Keep an eye on Bosh, follow the market pulse, and seize every possible opportunity!

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