10x Research: Based on stock-to-flow analysis, the predicted peak of Bitcoin cycle is $62,000

10x Research pointed out in its latest report that despite the bullish sentiment prevailing in the Bitcoin/cryptocurrency field, it is crucial to protect wealth or profit from significant price drops at certain moments. On October 3, 2023, it predicts a substantial increase in Bitcoin depending on whether the Federal Reserve maintains its current stance and suggests "selling when the Fed first cuts interest rates". As expected rate cuts now seem driven by economic weakness rather than falling inflation, this view becomes increasingly prominent. In October 2022, although most people were bearish, it took a bullish stance and halved the bitcoin price target for 2024 to $63,160 eventually reaching $63,491 on April 20th of 2024. The end-of-2023 target is $45k but ultimately aims for $43k which has also been questioned. Many were disappointed with the report released by 10x Research in early February setting Bitcoin's target price for 2024 at "only" $70k. However, the report had already predicted a range of $60k-$70k based on its stock-to-flow analysis forecast; as time goes by returns will decrease with cycle highs being around $62K.