Bitcoin Prediction: When Will BTC Hit $11k And 37k?
At the moment of writing, this article Bitcoin is trading in the red, and the king coin is priced at $10,465.12.
There are all kinds of predictions regarding the price of the king coin, and new ones just popped up.
It’s been reported that crypto analyst Timothy Peterson has provided valuable information regarding the future price of Bitcoin (BTC).
Bitcoin to reach $11k in two weeks
Recently, Peterson used his Metcalfe model to predict that Bitcoin is two weeks from hitting $11,000.
More than that, the analyst said that Bitcoin would retest $12,000 in two months, and it will reach a value of $37,000 in two years.
— Timothy Peterson (@nsquaredcrypto) September 27, 2020
It’s also important to note that Peterson has reminded his followers more than once that his analysts of Bitcoin is based on Metcalfe’s law and should not be treated as financial advice.
Also, investors and traders who are interested in learning more about the methods that Peterson uses can read all the interesting details in his informative research paper titled ‘Metcalfe’s Law as a Model for Bitcoin’s Value.’
According to Peterson, once Bitcoin Hits $11k, its value could grow by $1k per 50 – 60 Days.
We are < 30 days from #bitcoin > 11k “forever”. It will get interesting because bitcoin will show $1,000 gains every 50-60 days +/-. That is the nature of compound growth. Like viral spread: suddenly overwhelming.
“Bitcon’s price is never looking back” https://t.co/aaCqAGEbFd
— Timothy Peterson (@nsquaredcrypto) September 19, 2020
A follower said: “Oct 13 is the 11K day as per your diagram, which is in 15 days. BTC is about to grow 18$/day in 2020 if we follow the midline.”
New bullish BTC prediction
In other news, it’s been revealed that the pseudonymous trader who made the accurate call that BTC will fall by more than 40% back in 2019 is back with another prediction.
Now, he is saying that Bitcoin may be on a long-term path to $540,000.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.