As Bitcoin surpasses $85,000, attention turns to its future prospects. Analysts discuss possible scenarios.
A Quantifiable Probability Based on Network History
On March 24, economist Timothy Peterson estimates a 75% probability that Bitcoin will reach a new all-time high by the end of the year. This projection relies on a ten-year study of Bitcoin price data from a seasonal perspective. Peterson claims BTC is "near the lower bound of its historical range," statistically increasing the chances of an upward move.
Technical Thresholds and Whale Behaviors
According to CryptoQuant analyst Crazzyblockk, the price range between $84,000 and $85,000 is a critical threshold for institutional investors and large Bitcoin holders. The $91,000 level is a realized price for short-term whales, and crossing it could trigger significant price corrections.
Seasonal Trends and Halving Impact
Historically, April and October have shown the best performance for Bitcoin. The combined impact of seasonal trends and the upcoming halving event expected in April may bolster further growth potential. However, even a high probability does not ensure certainty.
Expert predictions provide both positive and cautionary signals for investors. The anticipated halving event adds intrigue to whether Bitcoin will reach new heights.
