Analysts at 10x Research have made a bold prediction that Bitcoin (BTC) could hit the $100,000 mark by January 2025.
Analysts at 10x Research have made a bold prediction that Bitcoin (BTC) could hit the $100,000 mark by January 2025. This forecast is attributed to a combination of factors, including rising institutional interest, significant market signals, and an increase in Bitcoin dominance relative to altcoins.
The current market price of Bitcoin stands at approximately $71,847. According to 10x Research, their prediction model has shown an impressive 86.7% accuracy rate over the last 15 signals, with the most recent buy signal triggered on Oct. 14.
Historically, when Bitcoin reaches a new six-month high—as it recently did—there is a median return of 40% over the following three months. If this trend holds true, a jump from the current price could push BTC above $101,000 by Jan. 27, 2025.
Institutional investors increasingly view Bitcoin as a stable asset, often referred to as "digital gold." Major players in the financial sector, such as BlackRock, have contributed to this perception, suggesting a long-term investment strategy in Bitcoin. In October alone, the spot Bitcoin exchange-traded funds (ETFs) attracted over $4.1 billion worth of BTC, further bolstering institutional confidence.
In contrast, the outlook for Ethereum (ETH) appears less optimistic. Analysts at 10x Research have expressed skepticism regarding Ethereum's long-term prospects due to lower yields observed over the past two years.
While short-term rallies may occur, significant innovation will be necessary for Ethereum to change its current trajectory.
Additionally, the upcoming U.S. presidential election is anticipated to be a potential catalyst for the crypto market, with predictions favoring a Donald Trump victory.
New regulations allowing companies to report Bitcoin holdings at current market prices may also encourage broader adoption of cryptocurrencies in corporate portfolios.
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