Famous economist makes new predictions about Bitcoin's surge! "BTC price in 100 days..."
The leading cryptocurrency Bitcoin (BTC) has come very close to its all-time high due to a rebound in recent days.
However, despite Bitcoin's price failing to reach a new high, it is still consolidating above $100,000 in a "risk" market environment with the US-China trade agreement and declining inflation indicators.
As the recent upward momentum boosts investors' confidence in Bitcoin, renowned analyst Timothy Peterson has made a bullish prediction.
Timothy Peterson stated that as investors turn to high-risk assets, the US-China agreement is driving Bitcoin and stocks higher, thereby fueling "risk" sentiment, and indicated that Bitcoin's price could potentially reach $135,000 within 100 days.
"With positive outcomes from the US-China trade negotiations, the Chicago Board Options Exchange (CBOE) Volatility Index (VIX), known as the Wall Street fear gauge, has dropped from 60 earlier this year to 20.
Currently at a 'normal' level, indicating a 'risk' environment for the foreseeable future. This opens the door for potential upward movement in Bitcoin's price."
At this time, analysts predict that Bitcoin could reach $135,000 in 100 days, noting the historical correlation between low VIX levels and rising BTC prices.
*This is not investment advice.
