This speculation comes as the Federal Reserve’s decision to keep interest rates unchanged amid ongoing economic uncertainty has led Peterson to predict that a bear market could be on the horizon.<\/p>\n
In a recent post on X (formerly Twitter), Peterson expressed concerns about the cur<\/strong>rent overvaluation of the market, particularly Bitcoin<\/a><\/strong>. He noted that while the market is not yet in crisis, the Fed’s decision to avoid cutting rates this year could be the spark needed for a decline. He cautioned that a correction seems overdue, stating that the market is primed for a pullback, especially when considering the broader economic context.<\/p>\n Drawing from historical market behavior, Peterson referenced<\/a> <\/strong>the overvaluation of the NASDAQ, which is currently 28% higher than expected. He suggested that Bitcoin could mirror this drop, potentially seeing a 33% decline, pushing its price to around $57,000. However, he also pointed out that savvy investors might seize the opportunity to buy at lower prices, which could provide support around the $71,000 range.<\/p>\n