Famous Economist's Mind-Boggling Bitcoin Prediction: He Said "Million Dollars"! - Kriptokoin.com

Bitcoin, the biggest player in the cryptocurrency world, has become an asset closely followed by both technical analysts and economists in recent times. A Bitcoin prediction put forward in recent days has excited investors, while on the other hand, the Fed's interest rate policy continues to affect the crypto markets.

Economist's Bitcoin forecast has arrived

Bitcoin author and researcher Timothy Peterson made striking statements about the future of the cryptocurrency by making a bold prediction. According to Peterson, the price of Bitcoin increases proportionally with the square root of the number of halvings the network experiences. As is known, the amount of newly produced Bitcoin is halved approximately every four years in the halving process on the Bitcoin network. Peterson claims that by combining this mathematics with the 'adoption curve mathematics' and 'Metcalfe's law,' the price of Bitcoin could rise to over $500,000 by the next halving time in 2028.

This also means an approximate annual return of 70%. Considering Bitcoin's current price of around $65,700, if Peterson's estimate comes true, this would mean a massive increase of 670% above current levels. Furthermore, the researcher suggests that about 450 days after the next halving event in 2028, Bitcoin should be "sustainably above $1 million." This prediction is consistent with the pattern observed in past halving cycles, where Bitcoin has experienced significant price increases following the reduction in new supply.

The market was focused on the speech of the FED chairman

Meanwhile, Federal Reserve Chairman Jerome Powell's speech is closely watched by the cryptocurrency markets. The Fed decided to keep interest rates at 5.25%-5.50% and Powell hinted at potential interest rate cuts in September. These statements have led to optimism among cryptocurrency analysts. Michael van de Poppe, founder of MN Capital, evaluates Powell's 'dovish stance' positively and sees a high probability of interest rate cuts in September. Similarly, Daan Crypto Trades also expressed expectations of interest rate cuts in September.

Cryptocurrency markets are highly sensitive to Fed's decisions. Interest rates can affect investors' risk appetite and move cryptocurrency prices. Therefore, Fed's statements will be closely monitored until September. Peterson's ambitious prediction creates excitement about the future of Bitcoin, while Fed's interest rate policy will also be decisive in the cryptocurrency markets. Investors should carefully consider these two factors when making investment decisions.

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