Analyst Predicts 75% Chance for Bitcoin to Reach New Highs by 2025
Analyst Timothy Peterson predicts a 75% chance of Bitcoin hitting new highs in the coming nine months, emphasizing historical trends. Additionally, an analysis reveals critical on-chain cost basis levels that could influence market behavior. Investors should proceed with caution and conduct their own research before any trading activities.
Timothy Peterson, a Bitcoin network economist, predicts a 75% chance that Bitcoin (BTC) will achieve new highs within the next nine months. In a post dated March 25, Peterson pointed out that Bitcoin is currently situated near the lower limit of its historical price range, suggesting it is poised for a potential rally. He stated, “Here is a 50% chance it will gain 50%+ in the short term.”
Following his remarks, Peterson referenced a study indicating that Bitcoin typically experiences its most significant bullish movements during April and October, boasting average gains of 12.98% and 21.98%, respectively, over the past decade. This pattern further strengthens his optimistic prediction for the near future.
In a related analysis by an anonymous expert known as Crazzyblockk on CryptoQuant, insights into Bitcoin’s on-chain cost basis were provided. The realized price for short-term investors, or “whales,” is set at $91,000, while more active user addresses maintain a cost base between $84,000 and $85,000. A decline beneath this range could instigate selling pressure, underscoring its significance as a liquidity zone.
Crazzyblockk notes, “These onchain cost basis levels represent decision zones where market psychology shifts. Traders and investors should closely monitor price reactions in these areas to gauge trend strength and potential reversals.”
This article is purely informational and does not provide investment advice. All trading and investment decisions carry inherent risks, and it is essential for individuals to conduct their own research prior to making decisions.
In summary, analyst Timothy Peterson highlights a 75% likelihood for Bitcoin to reach new heights within the next nine months, supported by historical price patterns showing significant gains in April and October. Moreover, another analysis emphasizes the importance of Bitcoin’s on-chain cost basis levels, indicating potential selling pressure beneath certain price points. Readers are reminded to exercise due diligence and research before making investment decisions.
Original Source: cointelegraph.com
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