Cryptocurrency analyst Timothy Peterson shared his Bitcoin price expectations for the end of the year and his assessments of FED policies.
Peterson, in his statement on social media, summarized his scenario for Bitcoin for the rest of the year as follows:
If I had to choose Bitcoin’s price path by the end of the year, it would be the 30th percentile of daily returns. Uptober (the general belief that October is a bullish month) will arrive a bit later, the peak will be in the first week of December, and we’ll finish the year around $150,000. A new all-time high is coming within 60 days.
Peterson also criticized the Fed’s policies. Recalling the Federal Reserve’s “dual mandate” to monitor both inflation and employment, the analyst argued that for many years, the Fed hadn’t given unemployment the same importance as inflation.
According to Peterson, the Fed views unemployment merely as a tool to measure the capacity to create inflation:
“The damage from inflation is considered permanent and long-term, while the damage from unemployment is seen as short-term and temporary. However, for the consumer, the situation is the opposite. Inflation means not being able to buy the things you want. Unemployment means not being able to buy even the things you need.”
*This is not investment advice.