Bitcoin network economist Timothy Peterson remains bullish on BTC, predicting a 75% probability that the cryptocurrency will set new all-time highs within the next nine months.
In a March 25 post on X, Peterson pointed out that Bitcoin is currently near the lower boundary of its historical range. He noted that this positioning suggests a strong likelihood of an upward move, aligning with past patterns where BTC has seen significant rallies from similar levels.
“There is a 50% chance it will rise by more than 50% in the short term,” Peterson stated.
His outlook aligns with historical data showing that Bitcoin has experienced some of its strongest yearly gains in April and October, which have averaged returns of 12.98% and 21.98%, respectively, over the past decade.
Key On-Chain Levels for Bitcoin Investors
In a recent CryptoQuant analysis, the anonymous analyst Crazzyblockk identified crucial on-chain price levels for investors. According to the report, short-term Bitcoin whales have a realized price of $91,000, while a large number of highly active addresses have a cost basis ranging between $84,000 and $85,000.
A drop below this range could increase selling pressure, making it a critical liquidity zone.
“These cost basis levels act as psychological decision points in the market. Traders should closely watch price movements around these areas to assess trend momentum and potential reversals,” the analyst explained.
For more news, find me on Twitter Giannis Andreou and subscribe to My channels Youtube and Rumble
What is your opinion on this particular topic? Leave us your comment below! We are always interested in your opinion!
