BTC price trajectory appears all but destined for six figures in the mid-term \u2014 despite almost eight months of Bitcoin market consolidation. <\/p>\n
<\/span> 5043 <\/span> Total views <\/span><\/p>\n 15 <\/span> Total shares <\/span><\/p>\n<\/div>\n Bitcoin is in the initial stages of a bull run and a $100,000 BTC price may come within three months.<\/p>\n In his latest market analysis<\/a> on Oct. 24, network economist Timothy Peterson said that \u201cignition\u201d has already come for a new Bitcoin (BTC<\/a>) bull market.<\/p>\n Bitcoin has spent nearly eight months consolidating<\/a> after its all-time high of $73,800 in March.<\/p>\n For Peterson, however, the real gains are yet to come \u2014\u00a0and may even see BTC\/USD hit six figures for the first time in the next three months.<\/p>\n \u201cBitcion\u2019s current run is not meaningfully different than prior price paths,\u201d he wrote on X.\u00a0\u00a0<\/p>\n \u201cThis puts a big dent in the \u2018diminishing marginal returns\u2019 argument.\u201d<\/p><\/blockquote>\n BTC\/USD chart. Source: Timothy Peterson\/X<\/em><\/p>\n<\/figcaption><\/figure>\n An accompanying chart compared BTC price performance since its last macro low<\/a> in late 2022 to previous cycles, with Peterson dismissing the idea that Bitcoin investors see lower comparative returns<\/a> each cycle.<\/p>\n \u201cA move just above trend puts Bitcoin at $100k within 90 days. Completely within reason,\u201d he said.<\/p>\n His prediction odds are not moved by politics, Peterson said, confirming that they are equally likely regardless of the outcome of the US presidential election next month.<\/p>\n As Cointelegraph reported<\/a>, Bitcoin continues to field various sky-high price targets through 2025.<\/p>\n Related: <\/strong><\/em>Bitcoin must hold this 2021 level as traders see BTC price dip \u2018over<\/strong><\/em><\/a>\u2019<\/strong><\/em><\/p>\n Next year is broadly seen as the deadline for the next macro top on BTC\/USD, with six-figure estimates increasingly frequent.<\/p>\n Source: Credible Crypto<\/em><\/p>\n<\/figcaption><\/figure>\n Others, however, remain cautious in the short term, with traders including Credible Crypto seeing a large <\/a>decline coming next.<\/p>\n BTC\/USD 1-hour chart. Source: Credible Crypto\/X<\/em><\/p>\n<\/figcaption><\/figure>\n A chart published<\/a> on X on Oct. 23 saw a possible return toward the $60,000 mark \u2014 something Peterson describes as a boundary that is unlikely to be violated.<\/p>\n \u201cA drop below $60k is becoming less and less likely,\u201d he said, describing Bitcoin as \u201cnot overpriced.\u201d<\/p>\n \u201cLook how closely Bitcoin has tracked the 2-cycle average these past few weeks!\u201d he said in a separate X post<\/a> on the same chart.<\/p>\n \u201cAmazing that it is following a path predetermined 4 years ago!\u201d<\/p><\/blockquote>\n This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n<\/picture><\/div>\n
Bitcoins Peterson: Bitcoin bull run \u201cnot meaningfully different\u201d<\/h2>\n
Bitcoins BTC price nerves persist<\/h2>\n