So, here we are, folks! Network economist Timothy Peterson is waving his arms like a madman, warning us that if the US Federal Reserve decides to play hard to get with rate cuts in 2025, we might just see a market meltdown that could send Bitcoin tumbling back to the $70,000 range. Yikes! 😬
“What it needs is a trigger. I think that trigger may be as simple as the Fed not cutting rates at all this year,” Peterson tweeted on March 8, right after Jerome Powell, the Fed Chair, casually mentioned he’s in no rush to change interest rates. Because who needs urgency when you can just sip coffee and watch the world burn? ☕🔥
Fed rate cut delay may spark bear market
Powell, in his best “I’m not worried” voice, said, “We do not need to be in a hurry and are well-positioned to wait for greater clarity.” Clarity? More like a foggy day in London! 🌫️
Peterson, who apparently moonlights as a Bitcoin fortune teller with his paper “Metcalfe’s Law as a Model for Bitcoin’s Value,” has crunched the numbers and thinks the Nasdaq could drop 17% over the next seven months. That’s a long time to hold your breath! 😮
He’s predicting a 33% decline in Bitcoin, which would bring it down to a mere $57,000 from its current price of $86,199. But don’t worry, he thinks it won’t actually drop that far. Phew! 🙌
“Traders and opportunists hover over Bitcoin like vultures,” he quipped, which is a lovely image, isn’t it? Just waiting for the price to drop to swoop in and snatch it up. Because who doesn’t love a good bargain? 🦅💰
Bitcoin’s 2022 low didn’t drop as expected
Remember 2022? When everyone thought Bitcoin would hit $12k? It only went to $16k, which is like saying, “I thought I’d gain 5 pounds but only gained 3.” Not too shabby! 😅
The last time Bitcoin flirted with the $71,000 mark was on Nov. 6, right after Trump’s election win. It then decided to party and hit $100,000 by Dec. 5. Talk about a glow-up! 🎉
In January 2025, BitMEX co-founder Arthur Hayes chimed in with his own predictions, saying, “I am calling for a $70k to $75k correction in BTC, a mini financial crisis, and a resumption of money printing that will send us to $250k by the end of the year.” Because why not throw in a mini crisis for fun? 😜
And just when you thought it couldn’t get crazier, Blockware Solutions predicted Bitcoin’s “bear case” for 2025 would be $150,000, assuming the Fed decides to change its mind on interest rate cuts. Buckle up, everyone! 🎢
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2025-03-09 06:49