Cryptocurrency analyst Timothy Peterson shared his bullish outlook on Bitcoin’s worth trajectory, citing historic information associated to US greenback efficiency.
Peterson lately famous that the US greenback is under the 200-day shifting common. It is a state of affairs that has occurred 41 occasions since 2015. In line with Peterson’s evaluation, such circumstances traditionally had a significant impression on Bitcoin’s worth efficiency over the following few months.
Peterson additionally famous that “after this sign, Bitcoin has traded at a better worth 98% of the time for the final 9 months.” Peterson additionally famous that the bottom achieve recorded in such a situation is +24%, with a median achieve of +162%. He prompt that the common revenue can be even greater.
Based mostly on these odds, Peterson estimates there’s a 90% likelihood that Bitcoin will attain or exceed $125,000 by the top of 2025.
On the time of writing, BTC is buying and selling at $87,814.
*This isn’t funding recommendation.
