Economist Timothy Peterson: “Bitcoin price could reach $100,000 in 90 days”
Economist Timothy Peterson has made the bold claim that bitcoin could rise above $100,000 in the next 90 days, citing the surprising connection between high-yield bonds and Bitcoin price movement.
In his analysis, Peterson emphasizes the “predictive power” of high-yield bonds, particularly the High Yield Bond Index (HYG), influencing the future price of bitcoin. According to Peterson, when bitcoin is undervalued relative to HYG, it tends to rise significantly over the next three months. Peterson notes that this relationship is statistically significant over time periods of one month or more.
Peterson's analysis suggests that current market conditions are ripe for such a jump. “If this indicator is correct, bitcoin will rise above $100,000 in 3 months,” the analyst wrote. He also explained that when bitcoin is overvalued against HYG, it usually signals a potential price drop, demonstrating the strength of this link between traditional finance and the cryptocurrency market.
Additionally, Peterson argued that if the Fed had lowered interest rates, the price of BTC would currently be around $80,000.
However, today, the price of BTC has fallen dramatically and is trading around $59,300 at the time of writing.$BTC
