Crypto research and analysis firm 10x Research has forecasted that Bitcoin (BTC) could reach an all-time high in the fourth quarter of 2024. In their report published on September 9, when Bitcoin was priced at $54,800, the company shared their thoughts on potential bullish catalysts on CNBC the following day. 10x Research highlighted that the period from October to March could see a significant and powerful breakout in the market.
Improving Market Structure
10x Research emphasized that the market structure is showing signs of improvement, which could lay the foundation for a bullish run. Notably, they pointed to the increase in stablecoin supply and rising leverage levels in futures markets as critical indicators. The firm also hinted at potential catalysts that could surprise investors. In their September 9 report, 10x Research noted Bitcoin’s bullish potential when the price was at $54,800, adding that they had been observing positive signals in the market ever since.
Critical Time Frame: October-March Period
The period from October to March is expected to be a highly active phase for the crypto market. 10x Research believes this time frame could represent a crucial turning point for Bitcoin and other cryptocurrencies, as the firm reported numerous buy signals in recent weeks.
Leading cryptocurrencies like Bitcoin and Ethereum (ETH) have seen an increase in buy signals, which are viewed as indicators of a potential market surge. While there are still some key resistance points in the market, 10x Research stressed that major developments could occur during this period, advising investors to stay cautious. Their analysis supports the growing optimism in the crypto market, raising year-end expectations for many investors.
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10x Research, Bitcoin, Ethereum, crypto market, buy signals
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