[10x Research: Bitcoin's Year-End $192,000 Prediction Is Overly Optimistic, Going Long on BTC Alone in Q4 May Not Be Profitable] 10x Research's Head of Research, Markus Thielen, stated that Bitcoin trading strategies in the fourth quarter of this year will differ from the past three years, as relying solely on leveraged long positions is no longer an effective approach. He pointed out that while some believe the rise in global money supply provides a favorable macroeconomic backdrop, this indicator is not critical, and other macro variables are more significant. Additionally, he noted that the current average year-end price forecast for Bitcoin among analysts is $192,000, but this target is overly optimistic. Although Bitcoin typically performs strongly in the fourth quarter, the market environment has changed, and investors need to adopt smarter trading structures to remain profitable. He emphasized that while there are still opportunities for profit, the methods differ from what most people expect.