Economist and Cane Island Investment Advisor Timothy Peterson recently shared insights on Bitcoin's performance. According to PANews, Peterson noted that Bitcoin has achieved positive returns in 50% of the months over the past two years, suggesting an 88% probability of price increases in the next 10 months. He forecasts an average return of 82%, with Bitcoin potentially reaching a price of $122,000.
Peterson explained that his informal indicator tracks Bitcoin cycles by counting the number of months with positive returns over the past 24 months. While this indicator measures frequency rather than magnitude, it remains useful for identifying turning points. He also mentioned that even if Bitcoin trades sideways in the coming months, the indicator might decline.