Bitcoin’s rally this week has the market buzzing – and one top analysis firm sees even more action ahead.
They’re calling for BTC to reach the $100,000 mark by January.
Meanwhile, the meme coin space isn’t slowing down either, with Pepe Unchained’s ICO nearing $23.5 million as investors clamor to get involved early.
Bitcoin Could Soon Hit $100K Says Top Crypto Research Firm
10x Research, known for their spot-on crypto predictions, says Bitcoin’s recent rally might just be the start.
Their model, which has an 86.7% accuracy rate across its last 15 signals, has flashed a new buy alert for BTC.
The reason?
A familiar trend: whenever Bitcoin hits a six-month high after a slump, it’s often followed by a 40% surge over the next three months.
That would put BTC at over $100,000 by January.
Backing this outlook, institutions like BlackRock are treating Bitcoin as “digital gold.
The numbers don’t lie – spot Bitcoin ETFs have raked in $4.1 billion this month alone.
And with potential moves like MicroStrategy’s push toward the S&P 500 and Donald Trump being elected president, this momentum shows no signs of slowing.
Where Are the Retail Traders? Bitcoin Rallies Despite Lack of Search Interest
There’s an interesting twist as Bitcoin climbs higher: retail traders are still largely absent.
Google searches for “Bitcoin” are only at 23% of the frenzy seen in May 2021, and Coinbase’s App Store ranking sits at just 308.
That’s far from its usual top-50 position during previous bull markets.
This limited retail interest suggests that further growth is on the cards.
CryptoQuant also reported that daily transfers from smaller investors dropped to a three-year low last month, hitting just $326 million.
Historically, quiet phases like these often happen before big price surges, as everyday investors tend to enter once an uptrend is clear.
As such, many believe the stage is set for a wave of FOMO if (or when) Bitcoin breaks its all-time high of $73,750.
At the time of writing, BTC is hovering around the $71,600 level.
It’s down around 2% since yesterday afternoon after almost tapping March’s peak.
However, given the coin’s explosive run-up, this could be just a temporary pullback before another bullish leg.
If that happens, 10x Research’s $100,000 prediction might not seem so far-fetched.
Pepe Unchained Benefits from Bitcoin’s Bullishness as Layer-2 Project Explodes in Popularity
As Bitcoin’s bullishness takes over the market, Baby Unchained (PEPU) is gaining ground, with its ICO nearing the $23.5 million mark.
Pepe Unchained is developing its own Layer-2 network called “Pepe Chain.”
This move comes at the ideal time – with Ethereum gas fees likely to spike, Pepe Chain’s promise of transactions up to 100 times faster (and cheaper) is going down well with investors.
However, the team will also offer a whole ecosystem beyond this Layer-2.
It’ll include instant bridging back to Ethereum, a dedicated block explorer, and a staking program with 99% annual yields for PEPU holders.
The team has also introduced a “Frens with Benefits” program that will dish out grants to developers who wish to build on the Pepe Chain.
With Bitcoin potentially on track to hit $100,000 soon, Pepe Unchained could be well-positioned to capture even more interest.
The analysts from 99Bitcoins think it would offer an “easy 50x to 100x” investment opportunity.
While hypothetical, their predictions highlight the massive interest in the project.
And if Pepe Unchained’s team can keep this interest going post-listing, there’s every chance it could be a key player in the Layer-2 space going forward.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!