10X Research Predicts Bitcoin To Hit $83k As Central Banks Pivot
CryptoNewsTerminal Staff07 Jun, 2024
10X Research Predicts Bitcoin To Hit $83k As Central Banks Pivot
10X Research, a crypto market analysis firm, has predicted that Bitcoin (BTC) will reach $83,000 in the coming days. This prediction is based on the formation of an inverse Head and Shoulders pattern on the BTC/USD daily chart. According to 10X Research founder Markus Thielen, the currently formed trendline (neckline) is likely to be broken soon, triggering a rally to $83,000. This prediction is further supported by the recent easing of monetary policy by central banks in Canada, Denmark, and Europe. The US is also expected to cut interest rates soon, which could provide a further boost to risky assets like Bitcoin. However, Thielen cautions that if Bitcoin fails to reach its all-time high, it could be due to a decline in Ethereum (ETH), which has support at $3,725.
