Is the Party Over? When Will Bitcoin Rise Again?

👇1-14) Crypto, the most thrilling asset class, is characterized by its wild, cyclical swings and ever-changing narrative. It offers new ways to dissect data and generate alpha while regulatory approval - such as through Bitcoin and Ethereum ETFs - broadens the crypto user base.

👇2-14) However, it's crucial to remember that without discipline and solid analysis, many will fall victim by purchasing coins at the top of the cycle while professionals and OGs sell. The average Bitcoin ETF buyer is underwater. Will they be ready to repeat this with an Ethereum ETF?

👇3-14) During the darkest moment of the 2022 bear market, we called on October 28, 2022, for a massive rally into the 2024 halving with a price target of $63,140 (here). We also correctly predicted the 2023 year-end target of $45,000 (here). Also, in this bull market, we called for setbacks tactically – in August 2023 ahead of the 15% Bitcoin correction, similarly in January 2024 when Bitcoin fell from $45,000 to $38,000 and also in March/April when Bitcoin fell to $56,500. No other crypto research firm does this – this makes 10x Research unique.

👇4-14) These are tough calls, especially in an asset class where everybody tends to be vocally positive, but some quietly sell near the top of the cycle. This could be the case again, as we explain below. But there will also be a time to buy again. We are convinced that HODL—buying and holding for the long term—does not work with Bitcoin at nearly $70,000. However, there will be future opportunities to buy, and we are here to guide you through them.

Bitcoin and Ethereum Futures Open Interest ($bn)

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