Bitcoin: Forecast Rise to $120,000 by January 2025

by A1

2 hours ago

Bitcoin price surged 6%, reaching $106,000, amid expectations of a Christmas rally.

Current Bitcoin Value

Today, the price of Bitcoin increased by 6%, surpassing the $106,000 mark. This significant index increase is likely linked to upcoming events in the financial market.

Growth Factors and Forecasts

10x Research founder Markus Thielen predicts that Bitcoin's value could reach $120,000 by January 20, 2025, ahead of Donald Trump’s inauguration as the US president. Factors influencing this include MicroStrategy’s inclusion in the Nasdaq 100 and optimistic expectations from the Financial Accounting Standards Board regarding cryptocurrency accounting.

We also received a new trading signal for Bitcoin, suggesting that the price could rally to $120,000 by Trump's inauguration on January 20, 2025.None

Impact on Markets and Institutional Investments

In addition to Nasdaq 100 inclusion, potential Bitcoin purchases and new accounting standards are driving institutional investments. With recent transactions, there continue to be significant BTC outflows from centralized exchanges, which may indicate a supply squeeze in the market.

MicroStrategy, Microsoft, and FASB accounting standards are key drivers of the upcoming rally.None

The Bitcoin market continues to show stabilization and positive trends, with hopes for further strengthening in the near future.

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