Could Bitcoin (BTC) hit USD $75,000 within weeks? As impossible as it sounds, one analyst says it could happen. 

According to Cane Island Alternative Advisors’ Timothy Peterson, BTC is now displaying an “almost perfect” correlation with 2013, when Bitcoin embarked on a 700% bull run, which if repeated from today’s price would give an incredible $75,000 within weeks.

Peterson claims Bitcoin’s recovery from its mid-March lows of $3,600 has tracked 2013’s price action almost perfectly. 

The 2020 #bitcoin recovery has tracked the 2013a recovery almost perfectly. Are we weeks away from $75,000? pic.twitter.com/3u3xjDMmgl

— Timothy Peterson (@nsquaredcrypto) June 7, 2020

Despite the world of crypto being very different now than in 2013, when there was basically just one major exchange, the now defunct Mt. Gox, many notable figures have been making dramatic Bitcoin price predictions over the past few months. 

Last week we reported Blockstream Co-founder and CEO Adam Black had become the latest crypto heavyweight to predict BTC is set for a major bull run, while the previous week popular social media trader, investor and entrepreneur Credible Crypto had claimed the last 896 days were “simply one massive re-accumulation phase before the run to 100K+ bitcoin”. 

Notably, Greyscale’s Bitcoin Trust is also engaging in an unprecedented Bitcoin buying spree, scooping it up faster than it can be mined, and Robert Kiyosaki, author of New York Times bestseller Rich Dad Poor Dad, has advised people to buy Bitcoin to save themselves from a coming economic crash. 

On the flip slide, many analysts are convinced Bitcoin will stay muted, unable to maintain even a breakout from the $10K barrier. Indeed, last week Ethereum co-founder Vitalik Buterin took to Twitter to diss Bitcoin and urge the crypto community to move on, and even outspoken crypto advocate John McAfee has backtracked on his prediction of $1m Bitcoin, claiming it was just a joke.   

AYO.NEWS says:

$75K Bitcoin within weeks sounds insane, but then again, global lockdowns and quarantines would have sounded insane in January, and some of the scenes we’re seeing from the United States right now are straight from a dystopian science fiction movie, so who the hell knows anymore? Crazy times. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

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