Timothy Peterson: Bitcoin will rise to $ 40,000 by the end of the year

Despite the decline in Bitcoin, which we observe in the middle of the week, the coin should reach at least $ 40,000 by the end of 2019 or even exceed it.

This view was expressed on Twitter by Bitcoin-optimist and investor Timothy Peterson. He stressed that the huge performance of the largest cryptocurrency in the first half of the year allowed BTC to achieve maximum performance since last spring.

The profit of investors who invested in Bitcoin grew by 180%, and by the end of this year it can add another 250%. An additional increase in the amount of 250% of the current value of Bitcoin will trigger a jerk of the coin to $ 40,000 and higher.

According to Peterson, if we analyze the dynamics of the BTC movement over the past few years, we can form a model of the behavior of cryptocurrency until the end of this year. It will be more aggressive, and Peterson does not even rule out that the BTC will “shoot” up to $ 50,000.

On Thursday, July 11, the largest digital currency is trading at $ 11,500, its market capitalization exceeds $ 207.898 billion. Analysts at Bloomberg previously expressed a similar forecast, noting that in the second half of this year, we could expect a positive trend and Bitcoin to take new heights.

However, many Internet users call the Peterson forecast conservative and emphasize that Bitcoin will make a much larger leap. The analyst partially agrees with them and declares that the mark of $ 40-50,000 is a modest forecast, since the probability of reaching $ 70-80,000 is allowed.

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