Timothy Peterson, one of the well-known economists of the cryptocurrency world, made an interesting prediction about the course of the Bitcoin price in the next 10 days.
Peterson predicts that the price of Bitcoin will fall to $70,000 in the next 10 days, according to a chart model he created. The analyst said that this chart examines the expected movements of the BTC price according to the data.
According to Peterson, this price prediction could be valid if the chart continues to follow the path of the 75th percentile of the bear market range. The analyst argued that this price level would also essentially indicate a bottom.
The chart shared by Peterson claims to predict the lowest levels the BTC price could reach.
The analyst, who also evaluates the possibility of $50,000 within 10 days, thinks that this is a 1 in 350 probability, but warns that the probability is not 0.
Peterson, in an analysis he shared last month, also evaluated where the Bitcoin price will not fall below. According to the analyst, the BTC price will not fall below $ 69,000 with a 95% probability. Peterson referred to these thoughts from last month in his latest analysis and argued that his $ 70,000 estimate was also in line with his evaluations from the previous month.
*This is not investment advice.
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