Analyst Timothy Peterson, known for his cryptocurrency bullish statements, has predicted the Bitcoin price level in two months.
According to the analyst’s estimation, the price of BTC could reach $120,000 in two months. Peterson’s prediction is based on ETF fund flows in the US. However, he mentioned that the model he utilized was a somewhat conservative estimate, and 80% of the time the price exceeded the estimate.
Peterson stated that in order for the Bitcoin price to hit $120,000, fund flows would need to increase by 27% to $46 billion, an increase of $10 billion. He argued that given the current growth rates, this target could be achieved within 60 days.
In a related development, Bitcoin critic Peter Schiff proposed a new idea: “Let’s create a new Altcoin reserves rather than BTC reserves.”
Furthermore, in his recent statement, the analyst suggested that the BTC price could potentially reach $275,000 six months from now, on June 13, 2025.
As of now, the BTC price is at $97,000 and has experienced a 5% decrease in value over the past week.
*Please note that this information is not intended as investment advice.