Cryptocurrency analyst Timothy Peterson has made some striking predictions about the price of Bitcoin (BTC). According to Peterson, there's a 50% chance Bitcoin will reach $200,000 by June of next year.
In the chart he shared, the analyst shifted Bitcoin's annual seasonal cycle by six months, making bull market periods more clear. Peterson argued that Bitcoin's bull market lasts from October 11th to June 11th each year.
According to Peterson, BTC would need to achieve an average monthly return of 7% to reach $200,000 by June. This would equate to an annual increase of approximately 120%. He also claimed that there's a strong possibility of reaching a new all-time high (ATH) in early November.
Peterson added a political note to his assessment, saying, “Will there be a government shutdown in the US next week? I hope so. Because markets usually rise when the government shuts down.”
*This is not investment advice.
