Is Bitcoin Set For Ultra Bullish Breakout To $138,000 Within 90 Days? Yes, Says One Analyst
Bitcoin has been see-sawing between $75,000 and $87,000 over the past few months as tensions between the U.S. and other nations, as a result of U.S. President Donald Trump’s tariff policies, have caused anxiety among investors and traders.
Nonetheless, BTC has an epic prediction for the future as one of the industry’s best-known commentators doubles down on its bullish future. According to Timothy Peterson, historical data shows the foremost crypto is ripe for a major price swing to $138,000 within the next three months.
BTC Is Eyeing $75,000-$138,000 Price Target In Three Months
In one of his latest updates on X (formerly Twitter), network economist Timothy Peterson, author of the paper “Metcalfe’s Law as a model for Bitcoin’s Value,” noted that the US High Yield Index Effective Yield, currently at over 8%, is key in determining Bitcoin’s next price move.
“This has happened 38 times since 2010 (monthly data),” Peterson posited, before adding:
“3 months later: Bitcoin was up 71% of the time. The median gain was +31%. If it went lower, the worst loss was -16%.”
As the performance of the BTC/USD pair is largely skewed upward, the pundit has uplifted the morale of bulls who are awaiting a new historic high.
“This likely puts Bitcoin between $75 and $138k within 90 days,” Peterson summarized.
Bitcoin was treading water just above $85,300. The asset must climb approximately 60% within that timeframe to reach the $138K level.
Peterson also pointed to the drastic fall in the US dollar index (DXY) amid the Trump-fueled trade war, noting that its unique positive correlation with BTC is bound to end soon. He believes that the level of correlation between Bitcoin and the DXY, which measures the dollar against a basket of US trading partner currencies, is “unprecedented” and “not causal,” as it suggests that the two assets are being affected by similar underlying conditions.
“Historically inverse, the relationship flipped in 2024 as both assets began responding to the same macro stressors: tightening liquidity, high real rates, and global risk aversion. BTC will decouple and rise when real yields drop + liquidity returns,” he postulated.
Read More
ARK Invest Sets an Ambitious Bitcoin Price Target of $2.4 Million by 2030
Is Bitcoin Set For Ultra Bullish Breakout To $138,000 Within 90 Days? Yes, Says One Analyst
Bitcoin has been see-sawing between $75,000 and $87,000 over the past few months as tensions between the U.S. and other nations, as a result of U.S. President Donald Trump’s tariff policies, have caused anxiety among investors and traders.
Nonetheless, BTC has an epic prediction for the future as one of the industry’s best-known commentators doubles down on its bullish future. According to Timothy Peterson, historical data shows the foremost crypto is ripe for a major price swing to $138,000 within the next three months.
BTC Is Eyeing $75,000-$138,000 Price Target In Three Months
In one of his latest updates on X (formerly Twitter), network economist Timothy Peterson, author of the paper “Metcalfe’s Law as a model for Bitcoin’s Value,” noted that the US High Yield Index Effective Yield, currently at over 8%, is key in determining Bitcoin’s next price move.
“This has happened 38 times since 2010 (monthly data),” Peterson posited, before adding:
“3 months later: Bitcoin was up 71% of the time. The median gain was +31%. If it went lower, the worst loss was -16%.”
As the performance of the BTC/USD pair is largely skewed upward, the pundit has uplifted the morale of bulls who are awaiting a new historic high.
“This likely puts Bitcoin between $75 and $138k within 90 days,” Peterson summarized.
Bitcoin was treading water just above $85,300. The asset must climb approximately 60% within that timeframe to reach the $138K level.
Peterson also pointed to the drastic fall in the US dollar index (DXY) amid the Trump-fueled trade war, noting that its unique positive correlation with BTC is bound to end soon. He believes that the level of correlation between Bitcoin and the DXY, which measures the dollar against a basket of US trading partner currencies, is “unprecedented” and “not causal,” as it suggests that the two assets are being affected by similar underlying conditions.
“Historically inverse, the relationship flipped in 2024 as both assets began responding to the same macro stressors: tightening liquidity, high real rates, and global risk aversion. BTC will decouple and rise when real yields drop + liquidity returns,” he postulated.
Read More