Bitcoin and crypto markets could face headwinds preventing new peaks if certain scenarios play out, wrote Bitcoin researcher and author Timothy Peterson.
The economist provided the analysis to counter his bullish prediction that BTC could reach $135,000 in the next three months or so. Continued poor or declining sentiment could impact crypto markets should things not improve soon.
The UMich consumer sentiment survey is bad, trending worse, while the AAII investor sentiment is 20% bullish, 60% bearish, “a huge gap and also trending worse,” he observed.
Meanwhile, the NAAIM Equity Exposure index is a respectable 60% allocation to equity, “but still well below the 80% associated with bull markets,” he said.
Three things that could prevent a new Bitcoin ATH.
Thing 1: Continued poor or declining sentiment. UMich consumer sentiment survey is bad trending worse; AAII investor sentiment is 20% bullish, 60% bearish, a huge gap, and also trending worse. NAAIM Equity Exposure index is a
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