(Rejected) Bitcoin's $20,000 All Time High Was Manipulated - Claims Crypto Analyst

On June 11, 2020, Cane Island Alternative Advisors' and cryptocurrency analyst, Timothy Peterson, in a tweet, expressed his views that it took 7 years for the world to realize that Bitcoin price charts in 2013 were manipulated. To support his statement, he referred to a recent ruling from a Japanese court that sentenced Karpeles of two and a half years of jail for Mt. Gox data tampering.

The analyst went to claim that the 2017 Bitcoin (BTC) all-time-high was also "fake" and questioned how long would it take for people to realize the same.

Timothy Peterson was prompt to clear out the air that the Bitcoin all-time-high actually happened but it was simply manipulated. He also mocked the 100TrillionUSD model and highlighted that according to this model, Bitcoin was supposed to be $55,000 by May 2020, which didn't happen. 

Is He Being Hypocritical?

On being questioned on his own models of "never look back price", Timothy Peterson said that "never look back (NLB)" is not a model but an actual price history of digital assets. According to him, NLB helps to remove price manipulation and the reason for Bitcoin growth is its continuous adoption.

"NLB is not a model it is an actual price history. The purpose is to remove the effects of manipulation so that you can see the long-term trend. Bitcoin continues to grow because it continues to be adopted", tweeted Timothy Peterson

One of the users asked him about the real definition of ATH (all-time-high) in his mind for which he responded it's not his mind but his math.

His Future Claims!

Timothy Peterson had recently made a statement in which he compared the current Bitcoin price movements with that early 2013's Bitcoin's bull run. According to one of his tweets, if we consider the proportion, a similar bull run in today's date will fetch Bitcoin to $75,000 within weeks. 

However, he was quick to respond that he didn't predict such a rise but just simply asked a hypothetical question, "Will History Repeat Itself?" 

The analyst used the data of the organically increasing number of Bitcoin users and predicted the price of Bitcoin going up to $1 Million by 2027. He claims the model to be legitimate as the $1 Million BTC Price figure is the outcome of his math.