Analysis of current macroeconomic conditions suggests that Bitcoin could reach $138,000 depending on fluctuations in the dollar.
Bitcoin Price Probabilities and Bull Market
Economist Timothy Peterson, in his April 18 analysis, asserts that under current conditions, Bitcoin could rise to $138,000 within three months. He noted that over the past 13 years, when the yield on high US interest rates exceeded 8%, Bitcoin saw a 71% growth rate.
Bitcoin and US Dollar Index Correlation
Peterson emphasizes that the relationship between Bitcoin and the US Dollar Index (DXY) has become unprecedentedly positive amid the trade war. However, he predicts this will change, with Bitcoin expected to rise as real yields decrease and liquidity returns.
Forecasts and Historical Data
Peterson has temporarily streamlined his previous forecasts, indicating a 95% probability that Bitcoin's price will not drop below $69,000. He also noted that the correlation with DXY may shift if liquidity increases and real yields decline.
Current economic conditions and historical data suggest that Bitcoin may show significant growth in the short term, with a potential rise to $138,000.
