MARA - Can Bitcoin Reach $83000? Key Factors Needed For A Breakout: 10x Research | Benzinga
Bitcoin (CRYPTO: BTC) is poised for a potential rally to new all-time highs, with a peak target of at least $120,000 during the current cycle, acording to a new analyst report.
10x Research, authored by Markus Thielen, sees a head-and-shoulders formation formation for Bitcoin that could soon break through the resistance line, possibly pushing its price toward $83,000 in the near term.
Key Factors For Bitcoin's Rally
Several factors are contributing to this bullish outlook.
Thielen points out, “It is only a matter of time until Bitcoin makes a new all-time high.”
The recent global central bank easing cycle, with interest rate cuts in Canada, Denmark and Europe, is fostering a favorable environment for risk assets.
This macroeconomic backdrop, combined with weakening US growth, employment and consumer spending, suggests that inflation will slow, which is positive ...