10x Research Predicts that Trump’s Inauguration Will Send Bitcoin to $110k

In a thrilling forecast that has captivated crypto enthusiasts, 10x Research predicts that Bitcoin could skyrocket to a staggering $110,000 by January 20. This date aligns with Donald Trump’s inauguration, adding an intriguing political angle to the financial outlook. The idea of Bitcoin reaching a new all-time high has traders buzzing with excitement. 

The bullish prediction hints at a strategic play for investors looking to capitalize on potential market movements. As Bitcoin finds its footing within this tactical range, opportunities for savvy positioning continue to emerge. Time will tell if the prediction holds and Bitcoin reaches new heights. However, the anticipation is evident.

January 2025 will be a pivotal month for the cryptocurrency market. According to 10x Research, the first key event to watch is the release of the Consumer Price Index (CPI) data on January 15. Favorable inflation could catalyze renewed investor confidence, potentially driving Bitcoin’s price higher. 

Moreover, this optimism is expected to carry into Trump’s inauguration on January 20, an event anticipated to ignite bullish momentum in the market further.

While Bitcoin’s price action has remained consolidated in recent weeks, this period of relative stability may set the stage for a significant breakout. 10x Research emphasizes that the inauguration could act as a psychological and macroeconomic trigger for investors, propelling Bitcoin into uncharted territory.

Bitcoin Dominance Holds Strong

Bitcoin’s dominance in the cryptocurrency market remains critical in this bullish outlook. After climbing from 50% to 60% throughout 2024, dominance has recently stabilized around 55%. It declares Bitcoin’s status as the primary driver of market sentiment. However, it also presents challenges for altcoins, which will unlikely thrive unless Bitcoin’s dominance declines significantly.

10x Research advises caution despite the bullish outlook. The firm points out that while optimism is warranted, the market will unlikely replicate the explosive trends seen in late 2024. Instead, traders should prepare for potential setbacks leading to the Federal Open Market Committee (FOMC) meeting on January 29.

Bitcoin balances on exchanges dropped by 200,000, indicating reduced selling pressure. Thus, the stage appears set for a rally. If 10x Research’s prediction materializes, Bitcoin could achieve an unprecedented $110k, marking a defining moment in crypto history.

Forbes also predicts the adoption of the apex coin by the BRICS nations but failed to state when it will start. Some indications point to the adoption starting in January.