Bitcoin’s recent price surge has everyone talking. Will it hit $122,000 next month? One research firm thinks so.
A Bold Prediction
10x Research is predicting a massive Bitcoin price jump to $122,000 by February. While ambitious, this prediction aligns with the positive outlook many experts have since the approval of Bitcoin ETFs.
Bitcoin’s Unstoppable Momentum?
Bitcoin’s price has been steadily climbing, often in increments of $16,000-$18,000. Markus Thielen of 10x Research sees this as a sign of continued upward movement, making the $122,000 target seem achievable. He expects a price pause after hitting that mark.
Thielen sees this as a “low-risk, high-reward” opportunity, pointing to Bitcoin’s previous test of the $101,000 resistance level after Trump’s inauguration. He suggests buying now with stop-losses around $98,000. The consistent price increases since US spot Bitcoin ETF launches further support this prediction.
Consolidation After the Surge
After the potential surge to $122,000, a period of consolidation is expected – a typical pattern in Bitcoin’s history. This sideways movement could create new buying opportunities for those waiting for a better entry point.
Bitcoin’s Strength Against the Stock Market
Bitcoin’s resilience stands out against the backdrop of struggling traditional markets. Increasing institutional investment is making Bitcoin less correlated with the overall financial market, potentially fueling further price increases. Other predictions suggest a 24% rise to $130,000 by February 2025. Current indicators show a bullish sentiment and extreme greed in the market.
The Big Question: When?
Past success isn’t a guarantee of future performance, but current conditions look good for more Bitcoin growth. Positive news (like ETF approvals) and institutional support are key drivers. The question isn’t if Bitcoin will hit $122,000, but when./p>
