• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Price & Market
Cap Data from
Nomics Logo Nomics Logo
Bitcoinist.com
Join Student Coin ICO
No Result
View All Result
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining
Bitcoinist.com
No Result
View All Result
bitcoin price moon potential
Nexo

Analyst Who Perfectly Called Bitcoin Price Sees Bright Future Ahead

Christine Vasileva by Christine Vasileva
1 year ago
in Bitcoin, News, News teaser
0

Cane Island Analyst Timothy Peterson maybe one of the only analysts to have accurately predicted the end of year bitcoin price . His analysis back in March this year, stated that the leading cryptoasset would price in at $7,800 by the end of December. If bitcoin continues to track as Peterson’s predicts,  BTC should close above it’s all-time high by the end of 2021.


Climbing Higher At a Slower Pace

In December 2019, the market price of BTC will hover near $7,800, predicted analyst Timothy Peterson. He was close enough in his range of predictions, as BTC trades at $7,513.32, after an unexpected spike on Wednesday.

From March 7: #bitcoin +/-7800 in December 2019 https://t.co/bNq9C8ZsYa

— Timothy Peterson (@nsquaredcrypto) December 4, 2019

Bitcoin price started the month at around $7,300, with spikes to $7,400 and drops closer to $7,000. But the long-term prediction for the coin remains bullish, with the hope of $1 million prices still envisioned by Peterson and a number of other predictive models. Some of the BTC long-term predictions still invite criticism, as price volatility, washed trading volumes and derivative market pressure creates uncertainty.

BTC is constantly rediscovering its price through new mechanisms, including spot and futures markets. The Peterson prediction may just be a “stopped clock” moment, which matches the current rate of bitcoin.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

But Bitcoin price is also capable of following models and predictions based on a self-fulfilling prophecy. Peterson believes BTC prices follow Metcalfe’s law of time and growth, also potentially reaching a much higher valuation.

The model proposed has excluded the biggest BTC rallies, as Peterson believes those were caused by manipulation on specific exchanges. A curve based on days traded, and the price moves within the normal low-volatility range, sees bitcoin price making a gradual, rather than parabolic, trek to higher prices.

If true, bitcoin price is yet to revisit $10,000, while also going through anomalies with higher volatility. So far, most BTC models are true in hindsight, but prices remain unpredictable. There are repeating observations, however, in that BTC makes its gains in a relatively short time span, then either remains stagnant or slides.

Bitcoin Price Remains Volatile Short-Term

Once again, the hike to $7,400-$7,500 made BTC avoid an immediate bearish scenario. But bitcoin price also face short-term fluctuations, with the potential of returning to a lower range.

Scenario 1: $BTC should bounce back to test 7250-7300, then dump lower.
Scenario 2: Dump lower and bounce above 6900 – this is bullish scenario.
Scenario 3: Monster dump to 6500 and 6300 – our long term short target.#BTC #Bitcoin #Blockchain #Crypto #Cryptocurrency pic.twitter.com/ATRpt2gajH

— Zen (@Philosof80) December 4, 2019

Bitcoin price fluctuations are also happening on gradually declining volumes of around $18 billion in 24 hours. Lowered volumes may also lead to short-term volatility.

What do you think of Timothy Peterson’s Bitcoin price predictions? Share your thoughts in the comments section below!


Images via Shutterstock, Twitter @nsquaredcrypto @philosof80

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Christine Vasileva

Christine Vasileva

Christine Vasileva is a financial news and business writer, tracking the latest developments in fintech and the effect of blockchain and crypto-assets on global business and finance.

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2021 Bitcoinist.com. All Rights Reserved.
  • Home
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Trade
  • Play Games
  • Mining

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.