2025-01-10 17:58:32 by ZyCrypto

Analyst Who Correctly Predicted Bitcoin’s 2024 Rebound Unveils New Price Traget — And It May Surprise You Advertisement &nbsp &nbsp Crypto analyst Timothy Peterson has shared insights into the Bitcoin future trajectory. The popular commentator suggested that BTC has yet to reach its full potential and that more price rallies lie ahead for the  the flagship crypto. Specifically, Peterson says the Bitcoin is headed to seven figures within the next decade. BTC To Hit $1.5 Million By 2035 In a Jan. 8 post on X (aka Twitter), Timothy Peterson, the famous author of the paper “Metcalfe’s Law as a Model for Bitcoin’s Value, predicted that Bitcoin would hit an eye-popping $1.5 million within 10 years. To arrive at $1.5m, Peterson cites his own model, which puts network growth at the center of BTC’s future value proposition.  “The year is 2035.  Bitcoin is at — and you can hold me to this — $1.5 million,” Peterson posited. “And somewhere someone is asking ‘Is now a good time to buy Bitcoin?’” Peterson is a prominent Bitcoin uberbull, indicating in his 2018 paper on Metcalfe’s Law that widespread global Bitcoin propagation was just a matter of time. “Traditional currency models fail with bitcoin, but various mathematical laws which explain network connectivity offer compelling explanation of its value,” the paper explained. Advertisement &nbsp In 2020, Peterson’s Lowest Price Forward (LPF) metric accurately forecasted that BTC would never cost less than $10,000 again. Last year, the pundit timed the local BTC price bottom to just over a week when it hit in September. Meanwhile, Peterson shared his expectations for future BTC price action in another X post on Jan. 2 saying, “nothing special.” “In fact, it was the second-worst ‘Up’ quarter out of the past 10,” Peterson observed. Huge Bitcoin Bounce Imminent? Peterson’s $1.5 million Bitcoin prediction comes following a historic Q4 2024 rally spurred by Donald Trump’s November election victory and the hope of a much more favorable regulatory landscape for crypto out of Washington D.C. Meanwhile, the price of Bitcoin is currently languishing below the symbolic $100,000 threshold following a macro-spurred market rout. However, we could potentially see a change in market fortunes by the end of this month after the swearing-in of pro-crypto President Trump on Jan. 20. The largest crypto slipped to a session low of $91,250 on Thursday, losing about 9% in two days from its Jan. 7 peak above $102,200. BTC has recouped some of its losses and recently traded at $94,390, still down 2.2% over the past seven days. That being said, the coming weeks could be key in determining whether Bitcoin continues its steady climb as Trump’s inauguration fuels optimism.