10x Research explained that Bitcoin’s chances of continuing its rally in the spring will remain, but provided that force majeure events do not occur in the market:
“Bitcoin will continue to rise above $122,000 in February after a pause, followed by a pullback to test this key level as support.”
This price is due to the typical steps of $16,000–18,000 for quotes of the first cryptocurrency. An optimal entry point with low risk and high profit has now been formed, representatives of 10x Research said.
A breakout to $106,000 indicates the relevance of a continuation of the bullish scenario in the medium term. Due to the expected more liberal US policy towards cryptocurrencies, the market can count on a multi-billion dollar influx of investments, experts believe.
Previously Factor CEO Peter Brandt (Peter Brandt) stated that by the end of the year the Bitcoin rate will be in the range from $120,000 to $150,000, and the probability of a drawdown will be 50%.
Source: Bits
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