Bitcoin Projected to Reach $1.5 Million by 2035 According to Analyst

Bitcoin (BTC) is currently trading in the low $90,000 range, with analysts divided on its potential for further decline before a rebound. Long-term observers remain optimistic about BTC's future prospects, anticipating a rise to $1 million or more.

Projection of Bitcoin Value

Timothy Peterson predicts Bitcoin could reach $1.5 million by 2035, based on Metcalfe’s Law.
This forecast indicates a nearly 15-fold increase from current levels over the next decade.
Metcalfe’s Law suggests that network value grows with user adoption.
Peterson's past predictions have shown accuracy in identifying market trends.

Current Market Dynamics

Over $524 million in liquidations occurred in the last 24 hours, including $136 million in BTC.
Analyst Keith Alan states that further price declines are likely, with significant sell-side pressure.
Potential support levels identified: $91,500 and $86,500.
A drop to $86,500 would be a 20% decrease from Bitcoin's recent all-time high of $108,135.
If support fails, there is a risk of falling to $77,900 to fill the CME gap.
Ali Martinez suggests a potential target of $275,000 based on a cup and handle pattern formation.
BTC trades at $92,805, down 3.3% in the past 24 hours.

metcalfe's law
bitcoin