Bitcoin could reach $75,000 in the next few weeks
Posted On 15. Juni 2020
The advance in the price of Bitcoin, during the last few years, has been one of the most important financial events in history. Especially if we consider that only a decade ago, cryptomoney was absolutely worthless. Whereas today, its price is around 10,000 dollars.
At the end of the day, this exponential increase in the price of Bitcoin makes a lot of sense. Considering that it has been driven by the most important trends in its market. We refer first to its programmed scarcity, through the decrease in BTC’s money supply thanks to the Halves. And secondly, the increase in interest in Immediate Edge in recent years.
Important role in the crypto market
Now, despite the fact that both trends are known to play an important role in the crypto market. It remains a very difficult issue to try to predict where Bitcoin’s price is headed. Due to the amount of simultaneous pressures that exist on the market However, if we heed Timothy Peterson’s words, Bitcoin could reach $75,000 very soon.
„Bitcoin’s recovery in 2020 has followed the path of the 2013 recovery almost perfectly. Are we just weeks away from $75,000?“
Peterson’s prediction would be based on the results held by BTC before the last big rally up. When after a drop in its price, the price started to rise slowly but steadily. Which, making the necessary equivalents, seems to indicate that we could reach a Bitcoin price of $75,000 in the next few weeks.