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Will Bitcoin Repeat the 2021 Scenario?

Peterson accompanied his analysis with a graph comparing the bearish markets of Bitcoin, based on his own measure "Lowest Future Price" (LPF), which has historically proven accurate in identifying long-term bottoms for the cryptocurrency. Although the model does not provide an accurate prediction, it suggests that Bitcoin could test the $70,000 level if it continues to move within a bearish market range at the 75% percentage.

Peterson noted that this scenario aligns with current LPF data, which showed last month that Bitcoin has a 95% chance of maintaining its 2021 highs as a key support level. He mentioned that this indicator had previously successfully predicted the $10,000 level as the lowest price in mid-2020, a level that Bitcoin has not fallen below since September of that year.