{"id":564203,"date":"2020-10-13T20:24:52","date_gmt":"2020-10-13T17:24:52","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=564203"},"modified":"2020-10-13T20:36:46","modified_gmt":"2020-10-13T17:36:46","slug":"crypto-analyst-90-chance-bitcoin-btc-never-closes-below-11k","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/crypto-analyst-90-chance-bitcoin-btc-never-closes-below-11k\/","title":{"rendered":"Crypto Analyst: 90% Chance Bitcoin (BTC) Never Closes Below $11k"},"content":{"rendered":"<p><strong>Quick take:<\/strong><\/p>\n<ul>\n<li><strong>Timothy Peterson of Cane Island Alternative Advisors has given Bitcoin a 90% chance at staying above $11k<\/strong><\/li>\n<li><strong>Bitcoin&#8217;s lowest price forward is $11,004 using Metcalfe&#8217;s law<\/strong><\/li>\n<li><strong>Mr. Peterson has used Metcalfe&#8217;s law to correctly forecast Bitcoin&#8217;s price movement since 2018<\/strong><\/li>\n<li><strong>He has predicted that Bitcoin will be valued at $12k by November 30th, 2020<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1315313681606094849\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">In an October 11th Twitter thread<\/a>, Crypto Analyst Timothy Peterson forecasted that Bitcoin had a 90% chance of continuing to trade above $11k and never dropping below this value ever again.<\/p>\n<p>For his analysis of Bitcoin, Mr. Peterson has continually used Metcalfe&#8217;s law. By using this law, he has calculated that Bitcoin&#8217;s lowest price moving forward <a href=\"https:\/\/en.ethereumworldnews.com\/crypto-analyst-bitcoin-btc-is-2-wks-from-11k-and-2yrs-from-37k\/\" target=\"_blank\" rel=\"noopener noreferrer\">is approximately $11,004<\/a>.\u00a0Below is Mr. Peterson&#8217;s first tweet in the informative Bitcoin thread that provides a clear illustration of his method of analysis.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/10  Today, the 11th, is <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#Bitcoin<\/a> $11K day. There is a 90% chance that bitcoin will never again close below $11K. I&#39;m stopping the <a href=\"https:\/\/twitter.com\/hashtag\/10KCountdown?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">#10KCountdown<\/a> <a href=\"https:\/\/t.co\/eBt54xrA9e\" rel=\"nofollow\">pic.twitter.com\/eBt54xrA9e<\/a><\/p>\n<p>&mdash; Timothy Peterson (@nsquaredcrypto) <a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1315313681606094849?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">October 11, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin&#8217;s #10kCountdown on Twitter<\/h2>\n<p>Additionally and from around June this year, Mr. Peterson has used the <a href=\"https:\/\/twitter.com\/search?q=%40nsquaredcrypto%20%23bitcoin%20%2310kcountdown&amp;src=typed_query&amp;f=live\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">#10kCountdown<\/a> hashtag on Twitter to demonstrate his use of Metcalfe&#8217;s law to forecast <a href=\"https:\/\/en.ethereumworldnews.com\/2020-is-possibly-the-last-year-bitcoin-btc-will-be-below-10k\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bitcoin&#8217;s journey towards $10k<\/a>. He <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-could-reclaim-10k-in-49-days-crypto-analyst\/\" target=\"_blank\" rel=\"noopener noreferrer\">correctly predicted<\/a> that Bitcoin would successfully break this psychological price zone and turn it into a support zone.<\/p>\n<h2>Bitcoin at $12k By November 30th<\/h2>\n<p>In the aforementioned 10 part twitter thread, Mr. Peterson gives a $12k forecast for Bitcoin by November 30th this year using his Metcalfe&#8217;s model.<\/p>\n<blockquote><p><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">On November 30th, 2020, <\/span><span class=\"r-18u37iz\">#Bitcoin<\/span><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">&#8216;s price will be at or above $12,000 (90% probability). Write it down, screenshot it, whatever. I don&#8217;t care if you believe me or not.<\/span><\/p>\n<p><span class=\"css-901oao css-16my406 r-1qd0xha r-ad9z0x r-bcqeeo r-qvutc0\">Metcalfe&#8217;s law is a mathematical and scientific fact, like gravity and E=mc2. I wrote 80+ pages of <\/span><span class=\"r-18u37iz\">#bitcoin <\/span>research backed by thousands of pages of supporting financial economics, as well as taught 2 semesters of MBA courses on network valuation.<\/p><\/blockquote>\n<p>Anyone interested in learning more about his Metcalfe model, Mr. Peterson has provided <a href=\"https:\/\/papers.ssrn.com\/sol3\/cf_dev\/AbsByAuth.cfm?per_id=2848613\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">this link<\/a> to his publicly available research papers on Bitcoin and its valuation using Metcalfe&#8217;s law. Mr. Peterson has also used the Metcalfe model to forecast the value of other digital assets such as <a href=\"https:\/\/en.ethereumworldnews.com\/crypto-analyst-chainlink-link-is-worth-about-5-8\/\" target=\"_blank\" rel=\"noopener noreferrer\">ChainLink (LINK)<\/a>, Ethereum (ETH) and XRP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Quick take: Timothy Peterson of Cane Island Alternative Advisors has given Bitcoin a 90% chance at staying above $11k Bitcoin&#8217;s lowest price forward is $11,004 using Metcalfe&#8217;s law Mr. Peterson has used Metcalfe&#8217;s law to correctly forecast Bitcoin&#8217;s price movement since 2018 He has predicted that Bitcoin will be valued at $12k by November 30th, 2020 In an October 11th Twitter thread, Crypto Analyst Timothy Peterson forecasted that Bitcoin had a 90% chance of continuing to trade above $11k and [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562268,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[800],"tags":[6962,1233,6961],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564203"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=564203"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/564203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562268"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=564203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=564203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=564203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}