Contents
Market Structure Shows Improvement
Critical Period: October to March
Cryptocurrency research and analysis firm 10x Research has reported that Bitcoin (BTC)
$
63,540
could reach an all-time high in the fourth quarter of 2024. In a previous report published on September 9, the company noted that Bitcoin’s price was at $54,800 and shared its insights on potential catalysts for price increases in a segment aired on CNBC the following day. The firm emphasized the likelihood of a significant market breakout during the critical period from October to March.
Market Structure Shows Improvement
10x Research pointed out improvements in market structure, laying the groundwork for a bullish trend. The notable increase in stablecoin supply and elevated leverage levels in futures trading are particularly striking. The company indicated that these developments serve as vital indicators for the
cryptocurrency
market, also highlighting the presence of potential catalysts that could surprise investors.
In its report published on September 9, the firm noted Bitcoin’s upward potential, with the price at $54,800 at that time. Following this, they observed positive signals in the market. 10x Research frequently offered “buy” signals for various
cryptocurrencies
, advising investors to exercise caution during this process.
Critical Period: October to March
10x Research anticipates a lively process in the cryptocurrency market from October to March. The company highlighted that this period could serve as a crucial inflection point for Bitcoin and other cryptocurrencies, emphasizing that they have received numerous positive buy signals in recent weeks.
The increase in buy signals for leading cryptocurrencies like Bitcoin and Ethereum (ETH)
$
2,650
is viewed as an indicator of an impending market rise. Despite existing significant resistance levels, 10x Research believes that important developments could occur, urging investors to remain vigilant during this period. The analysis conducted by the firm supports the positive sentiment in the cryptocurrency market, elevating investors’ year-end expectations.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
