Bitcoin Likely to Hit $100K Within The Next 3 Months — 10X Research

All indicators and current happenings around the globe point to the fact that Bitcoin is poised to spike in price. However, the extent of this imminent price surge continues to be a subject of debate, with many analysts sharing varying forecasts. One of the most recent predictions is the one by crypto research firm 10X Research. According to 10X, all things being equal, Bitcoin is likely to attain the $100,000 price level by January 2025. Meanwhile, BTC price target that the firm has set is based on its prediction model, which recently triggered two buy signals. As 10X claims, the model has been 86.7% accurate for the last 15 signals. So, though the prediction appears a little ambitious, a price surge of at least some considerable amount might be certain. Still, the researchers are standing by their 6-figure price prediction. The explanation, as detailed in the official report, reads: “When Bitcoin sets a new six-month high for the first time in 6 months like it did recently, we typically see a median return of 40% over the next 3 months.” If these calculations are anything to go by, then a 40% rise from the current market price of $73,000 will see BTC surpass $101,000 by January 27, 2025. Then there is the “Bitcoin black hole effect.” Value keeps flowing out of altcoins into Bitcoin, continually establishing the dominance of the flagship cryptocurrency. Institutional Investors Rally Behind Bitcoin As many predictions suggest, a bull run might even already be playing out. However, now more than ever, institutions such as BlackRock are getting more involved. The 10X Research report suggests that the growing interest from institutions is because they now also see BTC as a great store of value. This explains the massive amounts of institutional investments that has been flowing into the coin.For context, the spot Bitcoin exchange-traded funds (ETF) market attracted $4.1 billion worth of BTC in October alone.