Economist Timothy Peterson, known for his comments in the field of cryptocurrency, shared his prediction regarding the end of the recent underperformance in the Bitcoin price.
Peterson claimed that there are 40 days left before the end of the correction in Bitcoin, in his prediction, which is based on his analysis of previous correction movements. The analyst argued that the current “bear market” cannot last more than 40 days.
In his statement on the BTC drop last week, Peterson said that he expects the price of Bitcoin to fall to $ 73,000 before the end of this month. Following the analyst’s statement, the price of Bitcoin remained above $80,000 in general. However, the trade wars between China and the United States are heating up, and any negative developments could lead to volatility in the price of Bitcoin.
BTC price is trading at $84,798 at the time of writing and has gained 0.64% in the last 24 hours. On the other hand, the overall cryptocurrency market has increased its total market capitalization by 0.73% in the last 24 hours and is hovering around $2.66 trillion. Ethereum, the world’s largest altcoin, continues to underperform and is down 0.63% today.
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