2025-01-23 00:00:37 by NewsBTC

Many analysts are ruminating on the next significant milestone, as the remarkable price increase of Bitcoin has captivated the market’s attention. A research company, 10x Research, predicts thatthe alpha coin could reach $122,000 by February. Although this may appear to be an ambitious goal, it is consistent with the optimistic perspective of numerous experts who have observed Bitcoin’s capacity to surpass critical price thresholds since the approval of Bitcoin ETFs. Bitcoin: Robust Momentum The momentum of Bitcoin is undeniable. In recent months, its price has fluctuated in a consistent manner, with periodic increases that have typically occurred within the $16,000–$18,000 range. Markus Thielen of 10x Research believes that these consistent increases indicate a continuation of upward movement, which implies that $122,000 is feasible in the near future. Thielen underscores that the crypto asset’s market conduct may experience a pause upon attaining this objective, despite the optimistic outlook. After hitting $98k, BTC retested its “wedge breakout.” Source: 10x ResearchThielen believes Bitcoin’s breakout presents 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 favorable time to buy with stop-losses around $98,000. Thielen also pointed out that Bitcoin has risen in $16,000–$18,000 increments since the launch of spot Bitcoin ETFs in the US, suggesting it could reach $122,000 by February before entering another consolidation phase. Expectation Of Consolidation Following The Surge A period of consolidation may ensue following Bitcoin’s prospective ascent to $122,000. This phase, during which its price stabilizes prior to another outburst, has been a recurring trend throughout its history. Investors should anticipate this period of sideways price action, which may present new opportunities for those who are anticipating a more favorable entry point. BTC price up in the last day. Source: CoinMarketCapStrength In Relation To The Stock Market The optimistic forecast is also in line with the relative strength of Bitcoin in comparison to traditional markets. Despite the challenges that equities have encountered, it has demonstrated remarkable resilience. BTC market cap currently at $2.09 trillion. Chart: TradingViewDue to the increasing number of institutional investors who are 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 toward $12,000. Meanwhile, according to current price predictions, the price of Bitcoin is predicted to rise by 24% and reach $ 130k by February 21, 2025. Technical indicators, according to CoinCodex, show the current sentiment is Bullish while the Fear & Greed Index is showing 84 (Extreme Greed). When? Though historical success of Bitcoin does not ensure future outcomes, the present conditions are favorable for more growth. The cornerstone for any price increases is Bitcoin’s ability to profit on positive news, such as ETF approvals, together with institutional support. The question is not whether Bitcoin will hit $122,000; rather, when. Featured image from Getty Images, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.