According to Timothy Peterson, we should expect the first cryptocurrency to grow in the next eight months. The expert justifies his forecast with the help of an analytical model specified in his work entitled “The Lowest Price Ahead: Why Bitcoin’s Price Never Looks Back.”
First published in 2019 and subsequently revised, this paper presents a new approach to understanding Bitcoin’s price dynamics based on its historical lows, called the “price that never looks back” (NLB).
According to the analyst, this model indicates that the value of Bitcoin will grow exponentially as the user base expands. At the same time, Timothy Peterson emphasized that if the implementation of the first cryptocurrency encounters difficulties, then the Bitcoin rate will begin to stagnate or fall.
Earlier, Michael Saylor, co-founder of the development company MicroStrategy, stated that Bitcoin has not only practical but also spiritual value.
Source: Bits
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