Bitcoin has witnessed a 5% increase in value over the past week, sparking considerable interest. Nevertheless, the cryptocurrency continues to face challenges in surpassing the $100,000 threshold.
Bitcoin's Growth and Market Challenges
Over the past week, Bitcoin showed a 5% increase, capturing the attention of many investors. However, despite positive market performance, the currency still struggles to break through the critical $100,000 barrier.
10X Research's Bitcoin Forecasts
According to insights from 10X Research, Bitcoin is likely to recover by early 2025, although a short-term dip is expected before the Consumer Price Index (CPI) release on January 15.
Impact of Economic Indicators on Bitcoin
Swissblock analysts point to a disconnect between economic signals and market behavior. Despite warnings from the economy, investors are increasingly drawn to high-risk assets such as Bitcoin.
Despite current challenges, Bitcoin continues to show resilience. Experts anticipate a recovery phase could start in early 2025, affirming the cryptocurrency’s long-term growth potential.
