by Nayab Fatima
Economist Timothy Peterson detects from his effective Bitcoin predicting model that $69,000 represents an enduring price base for BTC. According to Peterson Bitcoin has a 95% chance of holding its position above $69,000 permanently despite recent market ups and downs.
Network Economist Timothy Peterson introduced his exclusive Bitcoin prediction tool “Lowest Price Forward” on X to his followers on March 4. He established this model during 2019 to predict the value ranges Bitcoin cannot return to as opposing precise market predictions.
“There is a 95% chance it won’t fall below $69k.”
Bitcoin Optimism Despite Market Doubts
Recent geopolitical events triggered a price drop for Bitcoin that matched its performance in November 2023. The bull market’s future fills Peterson with Bitcoin optimism despite market doubts.
His Lowest Price Forward system now shows $69,000 as the bottom seal for Bitcoin to resist going lower than this mark. The Lowest Price Forward system cannot provide actual future Bitcoin prices. According to Peterson the model shows what Bitcoin prices will never reach.
In past years Peterson’s model showed precise results. During June 2020 Peterson made a forecast about BTC price patterns that correctly predicted a four-digit slump in August although there was a two-week delay. Since January 2024 Peterson has shown how BTC will reach $1.5 million value by 2035. During this prediction BTC was selling for $92,000.
Despite future success predictions BTC will need a significant time period to start its next upward growth according to Peterson. In late February he predicted an 80 thousand dollar floor due to BTC Price to Trend data. The market expert recognized a short-term pause period would follow the recent intense market shifts.
He explained on February 25 that market plunges normally prompt a 2-3 month period of market stabilization after these hard falls. Market participants will monitor BTC performance to see if it maintains the $69,000 mark while ensuring that Peterson’s future expectations remain accurate.
“After that it’s game on again like nothing ever happened.”
#blockchain #crypto, #decentralized, #distributed, #ledger
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