BlockBeats news, on October 30, according to Cointelegraph, 10x Research predicted that current market trends and upcoming global events may cause the market price of Bitcoin to rise to $100,000 in January 2025.
10X Research’s prediction of a Bitcoin price target of $100,000 is based on its model, which has recently triggered two buy signals, most recently on October 14. According to 10X Research, its prediction model achieved an accuracy of 86.66% over the past 15 signals.
Analysts at 10X Research said that when Bitcoin hits a new high for the first time in 6 months, it typically sees a median return of 40% over the next 3 months. Based on the above calculations, a 40% increase from the current market price of $73,000 would allow Bitcoin to exceed $101,000 on January 27, 2025. Another factor supporting this theory is the “Bitcoin black hole effect,” which means that Bitcoin’s growing status is pulling value away from altcoins. In addition, institutional investors such as BlackRock have begun to view Bitcoin as a long-term stable asset or digital gold.
