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Timothy Peterson announced the timeline for Bitcoin to reach $138,000.
Timothy Peterson (Timothy Peterson) noted that the US Dollar Index (DXY) continues to remain below the 100-point mark, which is one of the lowest levels in the past three years:
“I am waiting for a repeat of the historical maximum of the first cryptocurrency in January. The current level of correlation between BTC and USD is unprecedented. The relationship is not causal but reflects the underlying conditions affecting both assets. Bitcoin will break this connection and start to rise when real yields fall and liquidity returns to the market.”
According to the economist, the first cryptocurrency currently exists in very unusual economic conditions due to the ongoing trade war between the US. But even in a challenging market environment, Bitcoin demonstrates remarkable resilience.
As the role of Bitcoin as a store of value grows, its value may equal that of physical gold. The number of small and large investors willing to hold the asset on their balance sheets is bound to increase, believes the expert.
Earlier, experts from The Block reported that the number of searches for “bitcoin” on Google reached 34 points in March, which is the highest figure since the beginning of the year.