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Bitcoin could hit $ 75,000

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All eyes on the crypto world are set on the price of Bitcoin after Bitcoin’s third Halving occurred. Therefore, expectations for a possible major post-Halving bullish rally will return. Which, as happened in 2017, could increase the price of BTC several times. Therefore, it is not surprising that statements such as Timothy Peterson, who comments that Bitcoin could reach $ 75,000 in the coming weeks, in the Tweet of the day:

Bitcoin advance

The advance in the price of Bitcoin, in recent years, has been one of the most important financial events in history. Especially if we consider that just a decade ago, the cryptocurrency had absolutely no value. While today, its price is around $ 10,000.

At the end of the day, this exponential increase in Bitcoin’s price makes perfect sense. Considering that it has been driven by the most important trends in its market. We refer first to its planned shortage, through the decrease in the BTC money supply thanks to the Halving. And secondly, to the increase in interest in Blockchain technology in recent years.

Now, even though both trends are known to play an important role in the crypto market. Trying to predict where the price of Bitcoin is going is still a very difficult issue. Due to the amount of simultaneous pressures that exist on the market. However, if we listen to Timothy Peterson’s words, Bitcoin could reach $ 75,000 very soon.

#Bitcoin’s recovery in 2020 has followed the path of 2013’s recovery almost perfectly. Are we just weeks away from $ 75,000?

Bitcoin could hit $ 75,000 in the coming weeks. Source: Cane Island Digital Research
Bitcoin could hit $ 75,000 in the coming weeks. Source: Cane Island Digital Research

Peterson’s prediction would be based on the results held by BTC prior to the last major bull rally. When after a fall in its price, the price began to rise slowly, but steadily. Which, making the necessary equivalencies, seems to indicate that we could reach a Bitcoin price of $ 75,000 in the coming weeks.





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