10X Research CEO: Bitcoin to Hit $77,000 in April, $146,000 in 90 Days

The CEO of 10X Research, Markus Thielen, has published a bullish forecast for Bitcoin that suggests the digital gold may reach $77,000 in early April, and $146,000 within the next 90 days. This prediction is based on historic trends and the theory of diminishing returns. According to Thielen, Bitcoin, after hitting a new high, typically undergoes a consolidation period of 10 to 20 days, after which the price continues to rise. Thielen's analysis predicts that Bitcoin could very well reach $99,000 in May 2024. The analysis also outlines a long-term target of $125,000 for Bitcoin, a figure derived from June 2023 and November 2023 predictions. By mid-summer, Thielen posits that Bitcoin could likely reach $146,000, representing an almost 114% growth from the current price of around $68,300. A key driver in this bull market, according to Thielen, is the imbalance in supply and demand of Bitcoin spot ETFs, contributing to the coin's price surge. A notable point Thielen raised is that dips in the Bitcoin market will be actively purchased as long as ETFs continue to see inflows.   While the analysis presented by the CEO of 10X Research is optimistic, it aligns with Bitcoin's historical trend of substantial growth post-halving. This prediction adds to the growing body of bullish forecasts accentuating the dominant role Bitcoin could play in the coming months. A word of caution, however: cryptocurrency investments are volatile and carry substantial risk. It is advisable to conduct personal research or seek financial advice before making any investment decisions.

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