Successful Investor Shared His New Price Prediction for Bitcoin (BTC)! đ
Will Bitcoin (BTC) exceed 100 thousand dollars in the coming period?
Timothy Peterson, founder of Cane Island Alternative Advisors, a financial advisory firm, thinks that the price of the leading cryptocurrency Bitcoin (BTC) may exceed $ 100,000 by the fourth quarter of 2024 or the second quarter of 2025 at the latest.
According to Timothy Peterson, for the price of Bitcoin to increase, the US high-yield corporate bond rate must fall to 7% or 6%. Currently, this rate is 7.54% due to the high risk of default.
Peterson noted that interest rates are an important indicator for market participants because low interest rates lead to lower returns for investors in securities such as bonds and term deposits.
According to the successful businessman, more investors have recently turned to riskier assets such as Bitcoin to get more returns from their investments.
According to the founder of Cane Island Alternative Advisors, the upcoming presidential elections in the United States will be one of the triggers for the rally in Bitcoin. đ
Stating that the markets generally exhibit horizontal movements and tend to have low volatility between September and October, Peterson believes that BTC will start to rise sharply after October. đ
