Bitcoin ‘too expensive’ for retail, threatens to end bull market cycle

Crypto intelligence firm 10x Research argues that Bitcoin is becoming prohibitively expensive for average retail investors, which may jeopardize the expected continuation of the current bull market beyond the traditional four-year cycle. The firm notes that Bitcoin is exhibiting "diminishing returns" and questions the validity of drawing firm statistical conclusions from its 16-year history, making the extension of the cycle highly questionable. While popular models like stock-to-flow predict a $1 million BTC price, 10x Research projects a more modest cycle top of $125,000 for the end of the year, a methodology that previously helped forecast the October 2022 bear market bottom. This projection contrasts with other optimistic forecasts, such as Standard Chartered's prediction of $200,000 by the end of 2025.

(Source：Cointelegraph)