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Analysts: Bitcoin will cost $100,000 by January

  • 6:05 AM

Bitcoin will reach $100,000 by January 2025. This forecast was made by experts from the research company 10x Research.

Analysts explained that when Bitcoin reaches a new high over the past six months, the asset subsequently shows an average return of 40% over the next three months. A 40% increase from the current price means that the first cryptocurrency will trade above $101,000 in January, 10x Research said. They added that this forecast is based on historical data and not on assumptions.

In addition, another factor for the growth of the asset is the “Bitcoin black hole effect.” Experts explained that we are talking about the dominance of Bitcoin, which is growing, “taking away” liquidity from altcoins.

“In other words, when Bitcoin gets stronger, other cryptocurrencies get weaker. The general opinion about cryptocurrencies has also changed: a few years ago everyone was talking about decentralized finance. “Bitcoin is now seen as ‘digital gold’ – a stable asset for long-term storage, which is especially attractive to large institutional investors such as BlackRock,” the analysts said.

10x Research also noted an increase in inflows into spot Bitcoin ETFs. According to them, $4.1 billion was received in such products in October 2024. In addition, experts believe that the possible victory of Donald Trump in the US elections is a positive signal.

“Another important factor is possible changes in accounting rules that will allow companies to report their cryptocurrency assets at their market value. This would eliminate the need to write off the value of their crypto assets when prices decline, which would make Bitcoin more attractive to companies as a corporate asset,” the analysts concluded.

Ethereum

10x Research predicts the fate of Ethereum less positively. Experts noted that despite Bitcoin’s rise, Ethereum has not even reached its previous high from 2021.

They named profit from staking the asset as one of the reasons for this development. They compared that the yield on a two-year US government bond is 4.1%, while Ethereum is only 2.9%.

The experts also added that there has been a stabilization in the number of daily active users and developer activity on Ethereum, “which casts doubt on its long-term potential.”

“Although the price of Ethereum fluctuates, the fundamentals of the network are not growing as quickly as before. We believe Ethereum could have some near-term upside, but are skeptical about its long-term prospects unless significant innovation occurs,” 10x Research said.

Earlier, 10x Research representative Marcus Thielen predicted the resignation of SEC Chairman Gary Gensler.

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Source: Cryptocurrency

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