Many analysts are focused on Bitcoin's next significant price milestone, with 10x Research predicting a rise to $122,000 by February. This ambitious target aligns with the optimistic views of experts who credit Bitcoin's ability to surpass key price thresholds since ETF approvals.
Bitcoin's robust momentum is evident, with consistent price fluctuations and periodic increases in the $16,000–$18,000 range. Markus Thielen of 10x Research highlights these consistent gains as indicators of the potential for further upward movement towards $122,000 in the near term.
Thielen suggests Bitcoin's breakout is a low-risk, high-reward entry opportunity, with prices testing resistance at $101,000 following Trump's inauguration. Investors are advised to use stop-losses around $98,000, anticipating another rise before a possible consolidation phase.
A period of consolidation may follow Bitcoin's ascent to $122,000, as its price stabilizes before potentially climbing again. Investors should expect this recurring trend, offering new opportunities for favorable entry points.
The optimistic forecast is also driven by Bitcoin's strength against traditional markets and growing institutional investment, which has reduced correlation with the broader financial market. This trend could further boost its upward trajectory.
Current predictions indicate Bitcoin could rise by 24% to reach $130k by February 2025, with a bullish sentiment and an Extreme Greed reading on the Fear & Greed Index. While historical success doesn't guarantee future results, conditions remain favorable for further growth driven by positive news and institutional support.