By Chris Hollingworth 
Bitcoin network economist Timothy Peterson remains optimistic about the future of BTC, suggesting a 75% chance of the asset reaching new highs within the next nine months. In a recent post on March 25, Peterson pointed out that BTC is currently positioned near the lower end of its historical range. According to the analyst, this places Bitcoin in the bottom 25% threshold, indicating a strong likelihood of a positive rally.
Peterson also mentioned a 50% chance of BTC experiencing a gain of 50% or more in the short term. This sentiment is supported by a previous study showing that Bitcoin tends to perform bullishly in April and October, with average returns of 12.98% and 21.98% respectively over the past decade.
An anonymous analyst known as Crazzyblockk, in a recent post on CryptoQuant, highlighted that the realized price for short-term whales stands at $91,000, while the cost basis for most highly active addresses ranges between $84,000 and $85,000. If the price of Bitcoin falls below this cost basis range, it could trigger selling pressure, making the $84,000 to $85,000 zone a critical liquidity area.
These cost basis levels serve as decision zones where market sentiment can shift. Traders and investors are advised to closely monitor price movements in these areas to assess trend strength and potential reversals.
It’s worth noting that this article is for informational purposes only and does not offer investment advice. All investment decisions involve risk, and individuals should conduct their own research before making any financial decisions.
