Peterson Sees Bitcoin Surging to $122K in Next 10 Months

Economist Timothy Peterson believes that Bitcoin (BTC) could surge to $122K in the next 10 months, according to his model. This prediction is based on historical data going back to 2011, which shows that similar conditions have previously aligned with stronger forward returns.

Peterson's model counts how many of the past 24 months were positive and identifies readings near 50% as potential transition points. He stated that this 'informal metric' can decline even if Bitcoin trades sideways for an extended period, since it only measures how often monthly returns are positive.

Currently, Google Trends data shows that searches for 'Bitcoin Is Dead' have reached their highest level since the FTX collapse, despite Peterson's cycle data suggesting Bitcoin may be entering a new phase. As of writing, Bitcoin was trading at $68,011.79, up by 0.2% in the past 24 hours.