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Many analysts are thinking about the next big event, as a notable increase in Bitcoin prices has captured the market’s attention. Research firm 10X Research predicts thisAlpha coin can reach $122,000 By February. Although this may seem an ambitious goal, it is consistent with the optimistic perspective of many experts who have noted Bitcoin’s ability to cross critical price thresholds since the approval of Bitcoin ETFs.
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Bitcoin: Strong momentum
Bitcoin’s momentum is undeniable. In recent months, its price has fluctuated in a consistent manner, with periodic increases typically occurring in the $16,000-$18,000 range.
Markus Thelen of 10x Research believes that these continued increases indicate continued upward movement, implying that $122,000 is possible in the near future. Thielen emphasizes that the behavior of the crypto-asset market may pause when this goal is achieved, despite optimistic forecasts.
Thelen believes the Bitcoin hack represents a “low-risk, high-reward entry opportunity,” with Bitcoin trading at $105,727. He noted that after Donald Trump’s inauguration, BTC tested the $101,000 resistance, making it a good time to buy with stop losses around $98,000.
Thielen also noted that bitcoin has risen in increments of between $16,000 and $18,000 since the launch of bitcoin ETFs in the US, suggesting it could reach $122,000 by February before entering another consolidation phase.
Expect consolidation after boom
A period of consolidation may follow after Bitcoin’s potential rise to $122,000. This phase, during which its price stabilizes before another explosion occurs, has been a recurring trend throughout its history. Investors should expect this period of sideways price movement, which may provide new opportunities for those anticipating a more favorable entry point.
Strength in relation to the stock market
The optimistic outlook is also consistent with Bitcoin’s relative strength compared to traditional markets. Despite the challenges faced by stocks, they have shown remarkable resilience.
Due to the increasing number of institutional investors investing in Bitcoin, the price of this digital asset is becoming less correlated with the broader financial market. This pattern has the potential to intensify the upward trajectory towards the $12,000 level.
Meanwhile, according to current price forecasts, Bitcoin price is expected to rise by 24%. Up to 130 thousand dollars By February 21, 2025. Technical indicators, according to CoinCodex, show that current sentiment is bullish while the Fear and Greed Index shows 84 (extreme greed).
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when?
Although Bitcoin’s historical success does not guarantee future results, current conditions are favorable for further growth. The cornerstone of any price increases is Bitcoin’s ability to benefit from positive news, such as ETF approvals, along with institutional support. The question is not whether Bitcoin will reach $122,000; But when?
Featured image from Getty Images, chart from TradingView