{"id":10247,"date":"2025-01-09T11:51:34","date_gmt":"2025-01-09T18:51:34","guid":{"rendered":"https:\/\/jasonsblog.ddns.net\/?p=10247"},"modified":"2025-01-09T11:52:51","modified_gmt":"2025-01-09T18:52:51","slug":"bitcoin-will-hit-1-5m-by-2035-says-analyst-who-called-2024-bounce","status":"publish","type":"post","link":"https:\/\/jasonsblog.ddns.net\/index.php\/2025\/01\/09\/bitcoin-will-hit-1-5m-by-2035-says-analyst-who-called-2024-bounce\/","title":{"rendered":"Bitcoin Will Hit $1.5m by 2035, Says Analyst Who Called 2024 Bounce"},"content":{"rendered":"\n

This would be if Bitcoin<\/a> was unmolested by governments and not made illegal as they force citizens to use their new central bank digital currencies. You have to remember that in the U.S. they once made gold illegal<\/a> for citizens to hold, forcing them to sell it to them for a set price. Not everyone complied of course, but the OCGFC government stooges will do whatever they’re told, and most citizens will comply. Bitcoin does have one thing going for it, in that you can take all of your Bitcoin holdings out of the country by just having the seed phrase that represents your private key, or take your hardware wallet with you in your pocket. Though, remember that the government might come after you for tax evasion if you don’t treat all of your holdings as sold when you leave and pay the corresponding capital gains taxes. The greedy government wants their money that they give to their OCGFC overlords.<\/p>\n\n\n\n

https:\/\/cointelegraph.com\/news\/bitcoin-will-hit-1-5-m-by-2035-analyst-2024-bounce?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound<\/a><\/p>\n\n\n

<\/div><\/div><\/div>\n\n\n
Bitcoin network growth is set to take BTC price to seven figures within the next decade, says Timothy Peterson.<\/h5>\n\n\n\n
\"Bitcoin<\/figure>\n\n\n\n

Bitcoin BTC $93,092<\/a> has a new seven-figure prediction for the future as one of the industry\u2019s best-known commentators doubles down on its bullish future.<\/p>\n\n\n\n

In an X post on Jan. 8, network economist Timothy Peterson, author of the paper \u201cMetcalfe\u2019s Law as a Model for Bitcoin\u2019s Value,\u201d announced<\/a> a $1.5 million BTC price target.<\/p>\n\n\n\n

Peterson: Bitcoin is less than 10 years from $1.5 million<\/h2>\n\n\n\n

Citing his own model, which puts network expansion at the heart of Bitcoin\u2019s future value proposition, Peterson predicted that Bitcoin would hit a giant $1.5 million per coin within 10 years.<\/p>\n\n\n\n

\u201cThe year is 2035. Bitcoin is at – and you can hold me to this – $1.5 million,\u201d he wrote in an accompanying commentary.  <\/p>\n\n\n\n

\n

\u201cAnd somewhere someone is asking \u2018Is now a good time to buy Bitcoin?\u2019\u201d<\/p>\n<\/blockquote>\n\n\n\n

\"\"
Bitcoin price charted against Metcalfe\u2019s Law: <\/em>Timothy Peterson<\/em><\/a><\/figcaption><\/figure>\n\n\n\n

Peterson is well known as a Bitcoin bull, with his 2018 paper on Metcalfe\u2019s Law suggesting<\/a> that massive global Bitcoin propagation was only a matter of time.<\/p>\n\n\n\n

\u201cTraditional currency models fail with bitcoin, but various mathematical laws which explain network connectivity offer compelling explanation of its value,\u201d it reads.<\/p>\n\n\n\n

In 2020, Peterson\u2019s Lowest Price Forward indicator correctly predicted that BTC\/USD would never trade below $10,000 again<\/a>.<\/p>\n\n\n\n

Last year, he timed<\/a> the local BTC price bottom to within eight days when it hit in September.<\/p>\n\n\n\n

In a sign of his expectations for BTC price performance to come, meanwhile, another X post on Jan. 2 described \u201dnothing special.\u201d<\/p>\n\n\n\n

\u201cIn fact, it was the second-worst \u2018Up\u2019 quarter out of the past 10,\u201d Peterson noted<\/a>.<\/p>\n\n\n\n

\"\"
BTC\/USD Q4 performance comparison. Source: <\/em>Timothy Peterson<\/em><\/a><\/figcaption><\/figure>\n\n\n\n

Bitcoin \u201cisn\u2019t done dipping\u201d<\/h2>\n\n\n\n

As Cointelegraph reported<\/a>, BTC price predictions for the coming year are firmly mixed as the bull run that characterized much of Q4 cools.<\/p>\n\n\n\n

Related: <\/strong><\/em>Bitcoin hourly RSI falls to most ‘oversold’ since $60K BTC price<\/strong><\/em><\/a><\/p>\n\n\n\n

Some still see a high probability of a deeper BTC price correction, and targets extend all the way back to near old all-time highs of $73,800.<\/p>\n\n\n\n

By contrast, more positive takes see upside returning, with the incoming inauguration of US President-elect Donald Trump serving as a pivotal moment<\/a>.<\/p>\n\n\n\n

\u201cTLDR: This dip isn\u2019t done dipping,\u201d Keith Alan, co-founder of trading resource Material Indicators, summarized<\/a> to X followers on Jan. 9.<\/p>\n\n\n\n

Alan cited \u201csuppression\u201d of price as a short-term headwind, with buyers waiting to add exposure at lower levels than the current $92,000.<\/p>\n\n\n\n

\u201cThere\u2019s no telling whether or not this move will develop into the deep correction we\u2019ve been expecting, but as a point of reference, a move to $86.5k would represent a 20% correction from the ATH,\u201d he wrote. <\/p>\n\n\n\n

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\u201cIf that level doesn\u2019t hold, then I think the CME Gap down to $77.9k could come into play.\u201d<\/p>\n<\/blockquote>\n\n\n\n

\"\"
BTC\/USD 1-day chart. Source: <\/em>Keith Alan<\/em><\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

This would be if Bitcoin was unmolested by governments and not made illegal as they force citizens to use their new central bank digital currencies. You have to remember that in the U.S. they once made gold illegal for citizens to hold, forcing them to sell it to them for a set price. Not everyone […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,7],"tags":[],"class_list":["post-10247","post","type-post","status-publish","format-standard","hentry","category-tech","category-world"],"blocksy_meta":[],"featured_image_src":null,"author_info":{"display_name":"Jason","author_link":"https:\/\/jasonsblog.ddns.net\/index.php\/author\/jturning\/"},"_links":{"self":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/10247","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/comments?post=10247"}],"version-history":[{"count":2,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/10247\/revisions"}],"predecessor-version":[{"id":10249,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/posts\/10247\/revisions\/10249"}],"wp:attachment":[{"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/media?parent=10247"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/categories?post=10247"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonsblog.ddns.net\/index.php\/wp-json\/wp\/v2\/tags?post=10247"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}