Bitcoin likely to experience a potential surge as FTX payout approaches and Federal Reserve adjusts

Bitcoin could potentially experience a significant surge in value by the end of 2024, according to insights from the latest report by 10x Research. The report acknowledges the volatility experienced in the cryptocurrency market this year, but also highlights a paradigm shift due to various factors and seasonal trends. Markus Thielen, the founder of 10x Research, explained that there is a particular focus on the FTX payout, as the proposed $5-$8 billion influx could potentially ignite bullish sentiment. The report also points out that historically, Bitcoin has performed well from October to March, which is a trend that could potentially repeat this year based on previous market cycles. It also considers external factors such as liquidity, macroeconomic conditions, and events like the US Federal Reserve interest rate decisions and the US election, which could serve as catalysts for Bitcoin’s end-of-year performance. Despite these positive indicators, the report advises investors to remain cautious, as Bitcoin has experienced significant drawdowns in previous cycles. Furthermore, the recent rise in the price of gold, driven by geopolitical tensions and interest rate cuts, has led crypto analysts to speculate on the potential impact of Bitcoin’s price on gold. The report concludes by reminding readers that it is important to consider both the strengths and weaknesses of Bitcoin and to stay informed about the market dynamics.