Bitcoin has a 10% Chance of Breaking 20k this Year, 90% Chance in 2021

Quick take:

Crypto analyst Timothy Peterson, has forecasted that Bitcoin has a 10% chance at breaking $20k this yearThese odds increase to 90% for the year 2021Mr. Peterson has also cautioned that Bitcoin could be overpriced by 20% – 50%However, he is optimistic that Bitcoin is unlikely to drop below $12k and $11k

Crypto analyst Timothy Peterson, has once again shared his insightful analysis on the possible market direction of Bitcoin (BTC). According to Mr. Peterson, Bitcoin has a 10% chance of breaking the $20k price ceiling this year. These odds increase to 90% in 2021. Mr. Peterson shared his Bitcoin forecast via the following tweet.

There’s a 10% chance that #bitcoin will break $20,000 this year.

There’s a 90% chance that #bitcoin will break $20,000 next year.

— Timothy Peterson (@nsquaredcrypto) November 7, 2020

#Bitcoin is 20-50% overpriced.

— Timothy Peterson (@nsquaredcrypto) November 5, 2020