Bitcoin's price has reached a six-figure mark, bringing hope to investors for further growth. However, a new report from 10x Research raises concerns about potential difficulties on the way to $140,000 and the risk of a drop towards $100,000.
10x Research Model and Bitcoin Price
The seasonal model from 10x Research effectively predicts price changes for Bitcoin. Despite a strong end to the year, the model indicates expected patterns of rise and fall. For instance, last month a 9.1% increase was forecasted, while the actual increase was 9.8%, confirming the model's reliability.
Seasonal Fluctuations: August and September
Looking at historical data: over the last 12 years, August has proven to be Bitcoin's worst month, with price drops in 8 out of 12 years and an average decline of 8.6%. September also presents negative scenarios, with an average drop of 4.6% in two-thirds of the years.
Institutional Investments and Their Impact
Initially, institutional investors drove Bitcoin's growth through ETFs. However, in recent weeks, there has been a slowdown in institutional inflows and even capital outflows, which may hinder further price increases.
Thus, on the road to $140,000, Bitcoin will face numerous obstacles, including seasonal fluctuations and changes in institutional investor interest. Forecasts leave room for both growth and decline, making the current market situation even more intriguing and uncertain.
