Bitcoin (BTC) price rose another 6% today, surpassing $106,000, as investors await a Christmas rally.
While MicroStrategy's addition to the Nasdaq 100 index and Donald Trump's strategic Bitcoin reserve expectations were influential in today's BTC rise, 10x Research founder Markus Thielen stated that they expect BTC to reach $120,000 before Trump takes office.
Bitcoin (BTC) Could Be $120,000 in January!
Thielen said Bitcoin could hit $120,000 by January 20, 2025, before Donald Trump is inaugurated as US president.
Thielen stated that there were large BTC outflows from centralized exchanges (CEXs) last week, causing constant supply pressure on the BTC price.
Markus Thielen also highlighted that MicroStrategy’s inclusion in the Nasdaq 100, the possibility of additional BTC purchases, and the adoption of new fair value accounting standards for cryptocurrencies by the Financial Accounting Standards Board (FASB) could increase institutional BTC adoption and fuel BTC’s year-end rally.
“New Bitcoin trading signal targets $120,000 by Trump’s inauguration in January.
Bitcoin’s rally has resumed after a brief consolidation. Cryptocurrency exchanges are experiencing major outflows, indicating a possible squeeze in BTC price.
We also received a new trading signal for Bitcoin, which deserves serious consideration based on the proven accuracy of our Trading Models (10 out of 12 successful). This signal suggests that Bitcoin could rally to $120,000 by Trump’s inauguration on January 20, 2025.
“There are three other catalysts we identified. MicroStrategy's inclusion on Nasdaq, Microsoft's proposal to adopt Bitcoin as a treasury asset, and FASB accounting rules regarding fair value reporting of crypto assets (100% probability).”
*This is not investment advice.
