Cryptocurrency expert Timothy Peterson has put forward some bold forecasts regarding Bitcoin’s (BTC) future value. He suggests there’s a 50% likelihood that Bitcoin could hit $200,000 by next June.
In his shared chart, Peterson adjusted Bitcoin’s yearly seasonal cycle by half a year to better highlight the bull market phases. He proposed that the bullish period for Bitcoin spans from October 11th to June 11th annually.
Peterson believes BTC would need an average monthly growth of 7% to reach $200,000 by June, translating into an annual surge of about 120%. He also mentioned a significant chance of setting a new all-time high (ATH) in early November.
Adding a political dimension to his analysis, Peterson remarked, “Is there going to be a government shutdown in the US next week? I hope so. Historically, markets tend to rise during government shutdowns.”
*This does not constitute investment advice.