👇1-14) Bitcoin has another 20% correction within a larger bull market. 10x Research is the only crypto research team that has accurately called all three 20% corrections (August 2023, January 2024, and March/April 2024) since the 5th Bitcoin bull market started officially on June 25, 2023. At that point, Bitcoin had made a new one-year high for the first time in a year (see our report from July 2023). | 👇2-14) However, this correction is very different, as institutional investors have a risk management approach that differs from most retail traders. Based on our estimates, the average entry price of the US Bitcoin ETF holders is approximately $57,300—potentially even 1-2% higher - a level that Bitcoin prices are approaching fast - as we predicted. | 👇3-14) Bitcoin's new one-year high has validated our early January 2023 prediction for the start of a potential new bull market. This positive trend is further reinforced by Bitcoin's proximity to our halving price projection of $63,160 (the actual price of $63,491), which we forecasted on October 28, 2022. | 👇4-14) Our 2023 Christmas year-end target of $45,000 was almost achieved (the actual price was $43,613). While we called already on November 28, 2023 (still one of our best TV interviews), for a price target of $57,000 for the post-ETF approval period, we ramped up this target to $70,000 on February 1, 2024, when Bitcoin traded just at $40,000. | 👇5-14) When we studied the history of Bitcoin and the driving forces of the crypto industry (here), a big takeaway was what drives prices and why various cycles are in place. This analysis (here) helped us call the bull market correctly and all three significant corrections. | | Subscribe to Premium Membership to read the rest. | Become a paying subscriber of Premium Membership to get access to this post and other subscriber-only content. | | A subscription gets you: | ✓ Receive concise, unrivalled informative crypto trading strategy reports (2-4x per week). | ✓ In just 10 paragraphs, unraveling the complexities and market structure of crypto and its dynamic landscape. | ✓ Insights into the intersection of crypto, regulations, macroeconomic trends, and policy shifts. | ✓ Apply to join subscriber ONLY Telegram Group. (Please read our Terms and Conditions and Disclaimer @ www.10xResearch.co)) |
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