Economist Predicts Bitcoin Could Hit $100,000 in 3 Months

Economist Timothy Peterson has predicted that Bitcoin could surpass $100,000 within the next three months, drawing attention to an intriguing link between Bitcoin’s price and high-yield bonds.

Peterson’s analysis points to the high-yield bond (HYG) index as a key predictor for Bitcoin’s future movements.

He notes that historically, when Bitcoin is undervalued compared to HYG, it often experiences significant price increases in the following months. This correlation has been consistently observed over various time periods.

According to Peterson, the current market conditions are favorable for Bitcoin to potentially reach above $100,000 by the end of the next 90 days. He also suggests that if Bitcoin is overvalued relative to HYG, it could signal a decline in its price, highlighting the predictive power of this financial indicator.

Additionally, Peterson mentioned that Bitcoin’s price might currently be around $80,000 if the Federal Reserve had reduced interest rates, though the cryptocurrency is presently trading at approximately $59,300.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.