Expert: "Bitcoin to resume bull market in 3 months... Lowest point: $69,000"

Results of the analysis of the bottom points of the 14-year BTC bull and bear markets
BTC forecast price of $1.5 million by 2035..."Restart in 3 months"

The opinion was presented that Bitcoin (BTC) will designate a new bottom at $69,000, and that Bitcoin will start a new bull market after a 3-month cooling period.

Cryptocurrency expert Timothy Peterson publicly shared a graph analyzing Bitcoin's price over the past 14 years on his X account on the 5th. He estimated the probability of Bitcoin maintaining a price above $69,000 at around 95%. The logic is that the current Bitcoin bull market has significantly raised the base price of Bitcoin through long-term analysis.

He stated, "When we display Bitcoin's lowest price, we can know where Bitcoin is going" and "The probability of Bitcoin falling below $69,000 is 95%."

In fact, during the Bitcoin crash in June 2020, Peterson predicted Bitcoin's rebound with the same logic, and Bitcoin has never fallen to the same price again.

Peterson pointed out the recent large-scale liquidations and claimed that the Bitcoin market will start a new bull run after about 3 months of cooling period. He said, "After a capitulation event like a large-scale liquidation, the market follows a 2-3 month cooling period, and then the market starts the game as if nothing had happened."

In January this year, Peterson set Bitcoin's price 10 years from now at $1.5 million. He reaffirmed that this price forecast remains unchanged. He emphasized, "It's 2035" and "I'm confident that Bitcoin will reach $1.5 million."

Reporter Kwon Seung-won ksw@blockstreet.co.kr