Rally

Bitcoin

Impact

<p>According to 10x <a href="https://x.com/10x_Research/status/1838840823594746157?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1838840852795605502%7Ctwgr%5Ed3b7e7edab654cf1fc2224a7d2f6c21ddf82b26a%7Ctwcon%5Es2_&amp;ref_url=https%3A%2F%2Fcryptonewsland.com%2Fbitcoin-set-to-reach-new-all-time-highs-in-q4-10x-research-predicts%2F" rel="noopener noreferrer nofollow">Research</a>, Bitcoin may soon reach a new all-time high in Q4, which could potentially put an end to the recent volatile correction phase.&nbsp;</p>  
<p>10x Research predicts that if Bitcoin surpasses the $65,000 mark, the bull market will resume, with the digital asset targeting $70,000. At the time of writing, Bitcoin is trading at $66,317.69, which is up over 2% in the last 24 hours.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-bitcoin-gaining-traction">Bitcoin Gaining Traction?</h2>  
<p>Bitcoin has encountered a strong recovery recently. Over the past week, Bitcoin bounced 6.16%, while it surged a remarkable 144.43% since September 2023. This shift in momentum suggests that the market is gaining back its confidence in Bitcoin’s long-term potential.</p>  
<p>10x Research also noted 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 depict a reversal of this downtrend, leading to further upward momentum.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-investors-eye-speculative-altcoins-nbsp">Investors Eye Speculative Altcoins&nbsp;</h2>  
<p>Additionally, along with the expected Bitcoin rise, the research firm also noted that investors are now prioritizing speculative altcoins over more stable, yield-focused tokens, which is driven by a desire for higher returns, as the appeal of real-world asset tokens has declined due to recent rate cuts by the Federal Reserve.&nbsp;</p>  
<p>This shift 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-impact-on-altcoins">Impact On Altcoins!</h2>  
<p>As Bitcoin approaches a new all-time high, the impact on altcoins could be significant. 10x Research suggests that “battered high-beta altcoins” may witness huge 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>The research firm noted that the correction that began in mid-March appears to be coming to an end. With sufficient corrections done on its part, Bitcoin is positioning the stage for a potential breakout, which could lead to increased investor interest in both Bitcoin and altcoins, as demand for more speculative assets continues to rise.</p>  
<h2 class="wp-block-heading" id="h-bitcoin-rally-imminent">Bitcoin Rally Imminent?</h2>  
<p>Bitcoin price broke and closed above its consolidation zone between $62,000 and $64,700 on Thursday, closing above $65,000.&nbsp;</p>  
<p>If BTC breaks and closes above its daily resistance level at $65,379, it could rally 7% from the breakout point to retest its July 29 high of $70,079. Contrarily, if BTC breaks and closes below the consolidation zone around $62,000, it could further extend the decline by 7% to retest its September 17 low of $57,610.</p>

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