Oh, the sheer delight of financial speculation! Analysts, with their crystal balls clouded by the fog of a US-led trade war, suggest Bitcoin might just take a leap back to the good old days of $70,000. 😱
Timothy Peterson, a network economist with a flair for the dramatic, took to X to paint a picture so vivid, it might as well be a Turner: Bitcoin, tumbling back to its2021 glory days. Quite the nostalgic trip, wouldn’t you say?
$70,000: Bitcoin’s “Practical Bottom” or a Trip Down Memory Lane?
As the US trade tariffs cast their shadow, Bitcoin price forecasts have taken a turn for the grim. Peterson, with a hint of nostalgia, muses, “Bitcoin to $70k in10 days?” 🤔
He presents a chart, not a crystal ball, mind you, but a comparison of Bitcoin’s bear markets, sprinkled with his Lowest Price Forward (LPF) metric. “Not a prediction,” he insists, “but a data-driven expectation.” A gentleman and a scholar, indeed.
“Should it follow the75th percentile bear market range, $70k would be our practical bottom.”
Peterson’s theory, backed by the LPF data, suggests BTC/USD has a95% chance of maintaining its2021 highs. A comforting thought, unless you’re prone to financial vertigo.
As April unfolds, Peterson reveals a market in flux, flipping from a75% chance of a positive month to a75% chance of a negative one in just two days. The market, it seems, is as fickle as the English weather. ☔️➡️🌞
Is Bitcoin’s Price Action the Prelude to a Finale?
Glassnode, the onchain analytics firm, notes a surge in demand for downside protection, with traders scrambling for cover like Londoners during a sudden downpour. “Puts are trading at a premium to calls,” they report, signaling a spike in demand for safety nets.
Despite the palpable panic, Bitcoin hasn’t capitulated like equities. Glassnode muses, “Skew like this usually appears when fear runs high. TLDR: panic is elevated, but price is holding. That’s often what a bottom looks like.” A bottom, or perhaps just the calm before the storm? 🌪️
“Panic is elevated, but price is holding. That’s often what a bottom looks like.”
Read More
- DC: Dark Legion The Bleed & Hypertime Tracker Schedule
- Elder Scrolls Oblivion: Best Battlemage Build
- To Be Hero X: Everything You Need To Know About The Upcoming Anime
- Summoners War Tier List – The Best Monsters to Recruit in 2025
- ATH PREDICTION. ATH cryptocurrency
- 30 Best Couple/Wife Swap Movies You Need to See
- ALEO PREDICTION. ALEO cryptocurrency
- When Johnny Depp Revealed Reason Behind Daughter Lily-Rose Depp Skipping His Wedding With Amber Heard
- Ein’s Epic Transformation: Will He Defeat S-Class Monsters in Episode 3?
- Are Lady Gaga’s Ever-Changing Wedding Plans Suiting Fiancé Dizzy? Here’s What’s Happening
2025-04-04 19:11