Famous analyst Timothy Peterson has made some statements that excite cryptocurrency investors. The price of BTC continues to trade in a narrow range and not even inflation data could move it. While passing through the lowest volatility period in six months, cryptocurrency investors may soon see a significant price movement.
Many investors expected the price to drop to $12,000 in mid-November for their long-term goals. However, they missed out on this opportunity. Analyst Timothy Peterson, on the other hand, announced that investors will soon have the chance to buy Bitcoin.
According to the analyst, the last chance to buy Bitcoin (BTC) at an attractive price will come to investors in the fall of 2023. Since the crypto market has been in a downtrend for about two years, there are speculations about the best price to buy Bitcoin before a new bull rally begins.
Cane Island Alternative Advisors investment manager Timothy Peterson says Bitcoin could drop below $25,000 before the end of September 2023.
Peterson believes that there will be a great opportunity period before the end of this year. If he is right, investors may also find a great buying opportunity in altcoins. Moreover, this can be exciting as many altcoins have not moved far enough from their historical lows.
“I believe Bitcoin could drop below $25,000 before the end of September. This will be the last major drop before the start of the next major bull run.”
The Bitcoin analyst also made a prediction that the cryptocurrency could surpass the $100,000 level in the spring of 2026. According to the analyst, Bitcoin has less than a thousand days left to reach the six-figure price.
If the U.S. Securities and Exchange Commission (SEC) approves the spot Bitcoin exchange-traded fund (ETF), it can be a catalyst for a six-figure price movement. Meanwhile, Dutch Bitcoin analyst PlanB shared an indicator that predicts a bull run for the next two years. However, it is not possible for analysts to predict the future. So, the probability of all these predictions failing is high. Therefore, investors must conduct their own research and create their investment strategies.