Bittime – 10x Research, a research firm focused on Bitcoin, has just published a new report predicting the potential for Bitcoin to reach a new ATH.
BTC Price Today
Summer: Over
Today, Bitcoin fell below $68,000 again, $67,489.15 to be exact with a decline of -0.13%. Q2 is not a good time for Bitcoin to shine. Moreover, after yesterday's Bitcoin halving, BTC prices are increasingly experiencing a decline.
BTC experienced an increase in prices when the Fed announced that inflation was falling. However, until now, BTC has not experienced another increase it is getting redder every day.
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Inflation Prediction and Its Relation to BTC Price
A report from 10x Research states that market consensus estimates that inflation data released on May 15 will again show disappointing figures.
10x Research predicts that this trend will continue over the next two months, with inflation likely to stabilize around current levels or even show a downward trend.
According to 10x Research, if inflation drops to 3.3% or lower, Bitcoin could potentially hit a new record. This is caused by several factors, namely:
- Investor Perception: A decline in inflation will strengthen the narrative that Bitcoin is an inflation hedge asset, attracting more investors to the market.
- Spot ETF Investor Interest: Bitcoin ETF spot investors will likely be encouraged to increase their capital allocation to Bitcoin, thereby pushing up the price.
10x Research Predictive Model
10x Research's report is based on their prediction model which shows that inflation is no longer a headwind for Bitcoin.
Inflation is now predicted to turn into a strong driving factor, especially if inflation shows a downward trend as predicted.
10x Research's prediction of Bitcoin's bright future is closely tied to falling inflation. However, it is important to understand the different views and risks to consider:
Another View on Inflation and Bitcoin
Some analysts argue that inflation could still be a factor inhibiting Bitcoin's growth in the short term. While there may be a downward trend, geopolitical shocks or other external factors could cause inflation to rise again.
The relationship between Bitcoin and inflation is still debated. While some investors see Bitcoin as a hedge, its value is also influenced by other factors such as regulation and overall market sentiment.
Risks to Consider
Bitcoin is known for its high price volatility. Although 10x Research predicts price increases, investors need to be prepared for the potential for significant price fluctuations.
Crypto regulations are still under development in many countries. Unexpected regulatory changes can negatively impact the price of Bitcoin.
Widespread adoption of Bitcoin has yet to occur. Slow adoption could hinder Bitcoin's future price growth.
Also Read How To Buy Crypto:
Conclusion
10x Research's prediction about the potential increase in Bitcoin prices, if inflation falls, is interesting to follow. However, investors need to pay attention to other views and existing risks before making an investment decision. Careful research and proper risk management are essential in the dynamic and volatile world of crypto investing.
How to Buy Bitcoin (BTC) on Bittime
You can buy and sell Bitcoin (BTC) easily and safely via Bittime. Bittime is one of Indonesia's best crypto applications, officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with the market pair BTC/IDR. To be able to buy BTC IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Bitcoin (BTC) on Bittime.
Monitor the movement of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other crypto charts to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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