If Bitcoin Breaks Above $73K, This Is The Price Target: 10x Research
Portfolio Pulse from Khyathi Dalal
10x Research predicts a Bitcoin (BTC) breakout above $73,000 could lead to prices between $81,000 to $83,000, citing the need for a new narrative to drive prices beyond old highs. The analysis draws on George Soros's investment philosophy and highlights the impact of U.S. inflation and tech stocks on Bitcoin. Potential bullish narratives include a U.S. debt explosion and the upcoming Presidential Election. The report also mentions the importance of Bitcoin as an institutional asset class to be discussed at Benzinga's Future of Digital Assets event.
April 24, 2024 | 10:35 am
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10x Research's analysis suggests a potential breakout for Bitcoin above $73,000, targeting $81,000 to $83,000, contingent on new market narratives and the impact of U.S. economic factors.
The analysis by 10x Research indicates a bullish outlook for Bitcoin if it breaks above $73,000, based on George Soros's investment philosophy and the need for new narratives to drive the price. The potential impact of U.S. inflation and tech stocks, along with upcoming events like the U.S. Presidential Election, are considered key factors. The report's emphasis on Bitcoin as an institutional asset class further underscores its potential short-term price impact.
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