Bitcoin (BTC) is on track to reach a new all-time high in the fourth quarter of this year, according to digital asset research firm 10x Research. The firm believes that if Bitcoin’s price moves above the $65,000 level, the bull market will resume.
Path to New High
In a post on X (formerly Twitter), 10x Research explained that since hitting a new all-time high in March, Bitcoin’s price has experienced a volatile correction marked by four lower highs. A breakout above $65,000 “would signal a reversal of this downtrend,” with Bitcoin targeting $70,000.
Latest Trends
Additionally, Bitcoin is expected to reach a new all-time high in the fourth quarter of the year. At the time of writing, the world’s largest digital asset is trading at a price tag of $63,874.92, down 13.41% from its all-time high of $73,750. In the past 24 hours, the cryptocurrency rose 0.24% but in the past week, Bitcoin skyrocketed 6.16% while jumping 144.43% since September 2023, as per CoinMarketCap data.
Speculative Altcoins Market
The demand for speculative altcoins is also on the rise, 10x Research said. With the increasing interest of investors in these assets, further price growth is possible.
10x Research forecasts indicate the potential for Bitcoin's price to reach a new all-time high in the fourth quarter of this year, which could resume the bull market in cryptocurrencies.
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