Bitcoin Could Hit $101,694 By January, Says 10x Research
Portfolio Pulse from Murtuza Merchant
Bitcoin is projected to reach $101,694 by January 2025, driven by strong market momentum and increasing institutional demand through spot ETFs. Bitcoin's dominance in the crypto market has increased, and spot ETFs have seen significant inflows, indicating robust demand.
October 30, 2024 | 2:43 pm
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BlackRock's CEO Larry Fink views Bitcoin as a 'buy-and-hold hedge,' reflecting a shift in sentiment towards Bitcoin as a reliable asset.
Larry Fink's endorsement of Bitcoin as a hedge suggests a growing acceptance of Bitcoin as a stable investment, which could attract more institutional investors and support its price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
Fidelity's Bitcoin ETF experienced an inflow of $134 million, reflecting growing institutional interest in Bitcoin.
The inflow into Fidelity's Bitcoin ETF is part of the broader trend of increasing institutional investment in Bitcoin, which is expected to drive its price higher.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
BlackRock's Bitcoin ETF saw a significant inflow of $643 million, contributing to the overall demand for Bitcoin and supporting its price increase.
The large inflow into BlackRock's Bitcoin ETF indicates strong institutional demand, which is a positive signal for Bitcoin's price. This demand supports the projection of Bitcoin reaching $101,694 by January 2025.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80