Cryptocurrency analyst Timothy Peterson made some impressive predictions about the price of Bitcoin (BTC). According to Peterson, there is a 50% chance that Bitcoin will reach $200,000 by June next year.
In the charts he shared, analysts shifted Bitcoin’s annual seasonal cycle by six months to make the bull market more clear. Peterson argued that the Bitcoin bull market will last from October 11th to June 11th each year.
According to Peterson, BTC will need to achieve an average monthly return of 7% to reach $200,000 by June. This corresponds to an increase of approximately 120% per year. He also argued that there could be a strong chance that he would reach the new all-time high (ATH) in early November.
Peterson added a political memo to his assessment, saying, “Will there be a government closure in the US next week? I hope so, because if the government closes, the market will rise.”
*This is not investment advice.
