Bitcoin Price Floor Set at $69,000: Analyst Predicts “Cooling Off Period” Before Bull Run Resumes

Bitcoin’s (BTC) price momentum may be due for a temporary slowdown, but according to network economist Timothy Peterson, the cryptocurrency’s price is unlikely to fall below $69,000 again. Peterson’s "Lowest Price Forward" metric, a tool he developed in 2019, suggests that Bitcoin has a 95% chance of maintaining this new price floor for the foreseeable future.

$69,000 Price Floor: A Strong Forecast

In a post on X (formerly Twitter) on March 4, Peterson unveiled his prediction that $69,000 would serve as a crucial price threshold for Bitcoin, stating that there’s a 95% chance it will not dip below this level.

“The Lowest Price Forward doesn’t tell you where Bitcoin will be; it tells you where Bitcoin won’t be,” Peterson explained to his followers. “There is a 95% chance it won’t fall below $69k.”

This new price level is based on Peterson's Lowest Price Forward metric, which has gained some credibility in the crypto space. Notably, it successfully predicted that Bitcoin would not revisit the four-digit price range from August 2020 after it entered a new bull run. That forecast proved accurate, with Bitcoin trading in the $10,000s briefly before the market surged.

A Temporary "Cooling Off Period"

While Peterson remains optimistic about Bitcoin’s longer-term future, he also acknowledges that the market may experience a short-term "cooling off period." Despite Bitcoin recently reaching highs near $78,000, Peterson argued that such price points were unsustainable, and a pullback was expected.

In a February 25 post, Peterson noted that Bitcoin typically undergoes a “2-3 month cooling off period” following major sell-offs or market corrections. These “capitulation events” are often followed by a rebound, as history suggests that Bitcoin’s long-term bullish momentum remains intact.

“After that, it’s game on again, like nothing ever happened,” Peterson wrote.

Looking Ahead: Bitcoin's Long-Term Potential

Peterson’s predictions aren't limited to short-term forecasts. Earlier this year, he set an ambitious target for Bitcoin, projecting that the cryptocurrency could reach $1.5 million by 2035. At the time, Bitcoin was trading around $92,000, and Peterson’s projection was met with interest, as the market speculates on Bitcoin’s continued growth over the next decade.

“The year is 2035. Bitcoin is at— and you can hold me to this— $1.5 million. And somewhere, someone is asking, ‘Is now a good time to buy Bitcoin?’” Peterson wrote.

This long-term price target further underscores Peterson’s optimism about Bitcoin's role in the global financial ecosystem and its potential as a store of value over the coming years.

Bitcoin's Resilience Amidst Geopolitical Uncertainty

While Bitcoin recently hit its lowest levels since November 2024, it remains highly sensitive to global economic and geopolitical decisions, particularly in 2025. Nonetheless, Peterson’s analysis suggests that despite some market volatility, the broader outlook for Bitcoin remains positive.

Peterson’s model is just one of many tools used by market participants to forecast Bitcoin's price movements, and while no prediction is foolproof, his history of accurate forecasts has earned him a reputation in the crypto community.

Conclusion

Peterson’s assertion that Bitcoin has a 95% chance of maintaining a floor at $69,000 highlights the increasing stability in the crypto market, even amid occasional price corrections. Though Bitcoin may experience a temporary cooling-off period, Peterson’s forecast suggests that a new bull market could be just around the corner.

With the long-term prospects for Bitcoin looking strong and institutional interest continuing to grow, many believe that the cryptocurrency will only strengthen its position as a key player in the global financial system.