Timothy Peterson, a well-known network economist, predicts Bitcoin will reach $1.5 million by 2035. In a recent post, he based this forecast on his model that emphasizes network expansion as crucial to Bitcoin's future valuation. Peterson asserts that by the middle of the next decade, Bitcoin's price could be trading at 15 times its current value. He previously predicted that Bitcoin would never drop below $10,000 again and accurately identified a local price bottom last year. Despite the bullish outlook, current Bitcoin price predictions for the nearer term remain mixed, with some expecting a deeper correction potentially revisiting past highs. Analyst Keith Alan indicated continued price suppression is a short-term concern, stating there is uncertainty regarding further dips, including a 20% correction to approximately $86,500. Peterson’s analysis reflects confidence in Bitcoin's long-term growth, highlighting ongoing skepticism about short-term performance.

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