With the US elections just around the corner, Bitcoin (BTC) is attempting a new ATH, rising above $73,000.
At this point, expectations for Bitcoin to rise further are increasing, with 10X Research analysts predicting that Bitcoin will reach 100,000 by January 2025.
10X Research, which announced its BTC price prediction on its YouTube channel today, stated that their predictions had an accuracy rate of 86.66% and argued that BTC could reach $100,000 by January 2025.
“Historically, when Bitcoin reaches a new six-month high for the first time in the last 6 months (which it did recently) we usually see an average 40% increase in price over the next 3 months.”
The analysts, who based their $100,000 prediction on Bitcoin’s growing dominance and institutional investors like BlackRock viewing it as “digital gold” and increasing their allocations, stated that these factors would bring BTC to the $100,000 target.
The $100,000 prediction for Bitcoin would represent an increase of around 40% from the current price.
Finally, 10X Research analysts, who also shared their Ethereum forecast apart from Bitcoin, predicted a rise for ETH in the short term, but stated that they expect a long-term decline for ETH if ETH does not make a significant innovation to improve its performance.
*This is not investment advice.
