Bitcoin

Strong

Impact

<ul>
  
 <li>Bitcoin may reach a new all-time high in Q4 if it surpasses $65,000, targeting $70,000 amid a market recovery.&nbsp;&nbsp;</li>   
 <li>The digital asset is currently trading at $63,874.92, up 144.43% since September 2023, signaling regained investor confidence.&nbsp;&nbsp;</li>   
 <li>Increased demand for speculative altcoins could arise as Bitcoin's price rises, potentially benefiting high-beta altcoins significantly.</li> 
</ul>   
<p>Bitcoin is heading toward a potential new all-time high in the fourth quarter, according to research from 10x Research. The firm expects Bitcoin to surpass the $65,000 mark, which could signal the end of the recent volatile correction phase.&nbsp;</p>   
<p>Notably, if Bitcoin breaks above this level, 10x Research predicts the bull market will resume, with the digital asset targeting $70,000.At the time of writing, Bitcoin is trading at $63,731.92, which is down 13.41% from its all-time high of $73,750.&nbsp;</p>   
<p>However, Bitcoin has experienced a strong recovery recently, rising 0.24% over the past 24 hours. Over the past week, Bitcoin jumped 6.16%, while it surged an impressive 144.43% since September 2023. This shift in momentum suggests that the market is regaining confidence in Bitcoin’s long-term potential.</p>   
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   https://twitter.com/10x_Research/status/1838840852795605502 
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<h2 class="wp-block-heading" id="h-market-signals-point-to-strong-bitcoin-performance"><strong>Market Signals Point to Strong Bitcoin Performance</strong></h2>   
<p>Notably, 10x Research has observed that the overall market landscape is shifting, with high-risk, high-reward assets like Bitcoin gaining traction. The firm highlighted that the recent correction in Bitcoin’s price was marked by four lower highs after reaching a peak in March. However, if Bitcoin surpasses $65,000, it would signal a reversal of this downtrend, leading to further upward momentum.&nbsp;</p>   
<p>In addition to Bitcoin’s anticipated rise, the research firm also noted that investors are now prioritizing speculative altcoins over more stable, yield-focused tokens.This trend is driven by a desire for higher returns, as the appeal of real-world asset tokens has diminished due to <a href="https://cryptonewsland.com/bitcoin-surges-as-fed-hints-at-rate-cuts-what-it-means-for-future-prices/" target="_blank" rel="noreferrer noopener sponsored nofollow">recent</a> rate cuts by the Federal Reserve. This change in investor behavior could lead to a broader market shift, with increased demand for more volatile and potentially profitable assets.</p>   
<h2 class="wp-block-heading" id="h-bitcoin-s-potential-impact-on-the-altcoin-market"><strong>Bitcoin's Potential Impact on the Altcoin Market</strong></h2>   
<p>Moreover, as Bitcoin approaches a new all-time high, the impact on altcoins could be significant. 10x Research suggests that “battered high-beta altcoins” may see massive gains in the short term if Bitcoin’s price holds above the $70,000 mark. These altcoins, which tend to be more volatile than Bitcoin, could benefit from renewed interest in the cryptocurrency market.</p>   
<p>Hence, the research firm emphasized that the correction that began in mid-March appears to have run its course. Medium-term reversal indicators show that Bitcoin’s price has sufficiently corrected, setting the stage for a potential breakout. This could lead to <a href="https://cryptonewsland.com/why-this-isnt-the-real-bitcoin-bull-run-yet-what-could-trigger-it-in-q4-2024/" target="_blank" rel="noreferrer noopener sponsored nofollow">increased</a> investor interest in both Bitcoin and altcoins, especially as demand for more speculative assets continues to rise.</p> 
<p>The post <a href="https://cryptonewsland.com/bitcoin-set-to-reach-new-all-time-highs-in-q4-10x-research-predicts/">Bitcoin Set to Reach New All-Time Highs in Q4, 10x Research Predicts</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin Set to Reach New All-Time Highs in Q4, 10x Research Predicts

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