[NEWS] Cryptocurrency research agency predicts Bitcoin will hit $100,000 by January next year

10x Research analysts have predicted that Bitcoin (BTC) will likely reach $100,000 by January 2025.

This prediction is the result of a combination of various factors, including growing institutional interest in cryptocurrencies, key market signals, and Bitcoin's increasing dominance over altcoins.

At the time of writing, Bitcoin was priced at $72,500. According to 10x Research, their prediction model has shown an incredible accuracy of 86.7% over the past 15 signals, with the latest buy signal occurring on the 14th.

Looking back, when Bitcoin reaches a 6-month high, as it has recently done, there has been an average return of 40% over the following three months. If this trend is applied, Bitcoin will soar from its current price and exceed $101,000 by January 27, 2025.

Institutional investors are increasingly viewing Bitcoin as a stable asset, often referred to as "digital gold."

Financial giants such as BlackRock have also contributed to this perception and have begun to adopt long-term investment strategies in Bitcoin. In October alone, Bitcoin spot ETFs attracted $4.1 billion worth of inflows, further boosting institutional confidence.

Ethereum outlook not optimistic

In contrast, the outlook for Ethereum (ETH) seems less optimistic. Analysts at 10x Research are skeptical of Ethereum's long-term prospects, citing the decline in yields over the past two years.

While short-term gains are possible, Ethereum will need major innovations to change its current trajectory.

Meanwhile, the upcoming U.S. presidential election in November is expected to be positive for the cryptocurrency market, as former Republican President Donald Trump is increasingly expected to win.

New rules allowing companies to report their Bitcoin holdings at current market value could encourage broader adoption of crypto assets in corporate portfolios.

10x Research also predicted in September that Bitcoin would hit a historic new high in the fourth quarter of 2024, citing the current improving market structure, the continued rise of stablecoins, and rising futures leverage.

Reference: 10x Research
Image: Shutterstock

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