Why Bitcoin Might Drop Another 20%: 10x Research
Portfolio Pulse from Murtuza Merchant
10x Research predicts a potential 20% correction in Bitcoin prices to the low $50,000s, citing differing risk management approaches between institutional investors and retail traders. Despite this, they maintain a positive long-term outlook, with historical trends and market forces supporting their predictions. Factors such as ETF outflows and mining costs could contribute to the anticipated correction, but a consolidation period might occur instead of a sharp decline.
May 01, 2024 | 5:48 pm
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10x Research predicts a potential 20% correction in Bitcoin prices to the low $50,000s, but maintains a positive long-term outlook. Factors such as ETF outflows and mining costs could contribute to the anticipated correction.
The prediction of a 20% correction is based on the analysis of ETF outflows, mining costs, and historical market trends. The anticipated correction is seen as a short-term movement within a broader bullish trend, suggesting a negative short-term impact but a positive long-term view.
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