Can Bitcoin Reach $83,000? Key Factors Needed For A Breakout: 10x Research
Portfolio Pulse from Murtuza Merchant
Bitcoin is poised for a potential rally to new all-time highs, with a peak target of at least $120,000 during the current cycle, according to 10x Research. Key factors include global central bank easing, institutional inflows, and macroeconomic conditions. However, challenges such as a sharp decline in Ether prices and disappointing demand for Ethereum ETFs could impact Bitcoin's trajectory. The report also recommends investing in Bitcoin miners like Bitfarms, Bitdeer, and Marathon Digital for beta exposure.
June 07, 2024 | 5:54 pm
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POSITIVE IMPACT
Bitfarms is recommended for beta exposure to Bitcoin's potential rally, driven by favorable macroeconomic conditions and institutional inflows.
Bitfarms is directly recommended by the report for beta exposure to Bitcoin's potential rally. The favorable macroeconomic conditions and institutional inflows are expected to positively impact Bitfarms.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Bitdeer is recommended for beta exposure to Bitcoin's potential rally, driven by favorable macroeconomic conditions and institutional inflows.
Bitdeer is directly recommended by the report for beta exposure to Bitcoin's potential rally. The favorable macroeconomic conditions and institutional inflows are expected to positively impact Bitdeer.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Marathon Digital is recommended for beta exposure to Bitcoin's potential rally, driven by favorable macroeconomic conditions and institutional inflows.
Marathon Digital is directly recommended by the report for beta exposure to Bitcoin's potential rally. The favorable macroeconomic conditions and institutional inflows are expected to positively impact Marathon Digital.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80