The price of Bitcoin is expected to reach 115 thousand dollars in the next 60 days, according to analyst Timothy Peterson.
The Bitcoin currency, the leading currency, reached 104 thousand dollars, its highest price since February, putting it just 5% away from its all-time high of 109,000 dollars. Meanwhile, well-known crypto analyst Timothy Peterson has an exciting analysis indicating that Bitcoin will reach a new all-time high, citing historical upward trends. Let us know when BTC will reach a new ATH and how much it will be pumped? Historical hints: imminent breakout. According to Timothy Peterson, this is not the first time Bitcoin has found itself in this position. Since 2015, Bitcoin has found itself in this exact position nearly 300 times. And here’s the exciting part, in 98% of these cases, the price continued to mark a new all-time high over the next fifty days. It’s hard to ignore this kind of consistency. Historically, when this happened, Bitcoin recorded some serious gains. The average return was about 17%, while the average profit was 43%. Even after Covid, during a calmer market phase, the average profit still holds a respectable 8%. Bitcoin to reach 115 thousand to 125 thousand dollars. If this trend repeats, Bitcoin could trend towards a price range of 115,000 dollars to 125,000 dollars over the next two months. This would be a huge step forward from current levels and would make headlines around the world. Peterson's Bitcoin price prediction also aligns with what Giant Bank Standard recently said. The bank still believes that Bitcoin will reach a new all-time high in the second quarter, adding that the goal of 120,000 dollars seems more realistic than ever. The key factor supporting this bullish prediction is that the recent surge in Bitcoin is due to several strong factors, fueling its upward momentum. First, the flow of Bitcoin ETF has consistently risen over the past two weeks, pushing the price from 82,000 dollars to 104,000 dollars. In addition, the strategy (formerly MicroStrategy) continues to build its Bitcoin holdings, which are now valued at over 57.4 billion dollars. Major players like the Abu Dhabi Sovereign Wealth Fund, the Swiss National Bank, and the Norwegian Pension Fund are adding to the momentum, increasing Bitcoin's legitimacy among traditional investors. Furthermore, U.S. states like Arizona, Texas, and Oregon are preparing laws to include Bitcoin in reserves, demonstrating growing support. All of this is pushing the price of Bitcoin higher.
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