According to Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, there is a 50% chance that Bitcoin (BTC) will drop below $25,000 before the end of September. Peterson believes that this potential dip would mark the “last big dip” before the next bull run cycle begins. He based his prediction on historical performance data for BTC/USD, which suggests that August and September tend to be challenging months for Bitcoin. However, Peterson remains bullish on Bitcoin’s long-term outlook and predicts that BTC/USD could reach $100,000 within the next three years based on the “Lowest Price Forward” metric. This metric accurately predicted Bitcoin’s last visit to $10,000 in September 2020. It’s important to note that this article does not provide investment advice and readers should conduct their own research before making any decisions.
Summary:
– Timothy Peterson believes there is a 50% chance of Bitcoin dropping below $25,000 before the end of September.
– He sees this potential dip as the “last big dip” before the next bull run cycle begins.
– Peterson’s prediction is based on historical performance data for BTC/USD, which suggests that August and September are challenging months for Bitcoin.
– He remains bullish on Bitcoin’s long-term outlook and predicts that BTC/USD could reach $100,000 within the next three years based on the “Lowest Price Forward” metric.
