“Bitcoin is about to fall to $70,000?” – The expert who once said it couldn’t go below $69,000 has changed his tune

“Bitcoin is about to fall to $70,000?” – The expert who once said it couldn’t go below $69,000 has changed his tune

Just a few weeks ago, renowned economist Timothy Peterson asserted that Bitcoin was unlikely to fall below $69,000 , with a probability exceeding 95% .

However, in a recent prediction shared on social media, he suddenly changed his mind – and this is attracting attention from the global cryptocurrency investment community.

Based on the chart model he built himself, Peterson believes that the price of Bitcoin in the next 10 days is likely to drop to the $70,000 region .

He said the model analyzes BTC price movements based on historical data, especially in bear market contexts. If the bear market scenario continues to stick, the $70,000 price level could become a short-term bottom.

While Peterson maintains that the likelihood of Bitcoin falling further is low, he does not completely rule out the downside. He warns that the possibility of BTC falling to $50,000 is real, although the probability is only about 1 in 350 – but it is still worth investors’ attention.

It is worth noting that despite changing his short-term price target, he still defends his argument from last month about a “safe zone” below $69,000 . Peterson said the new forecast is still consistent with the original view, just adjusting according to the development of the recently updated statistical model.