Cryptocurrency analyst Timothy Peterson highlighted September 21 as a key indicator of Bitcoin’s performance. He believes that the date marked the turning point that marked Bitcoin’s annual upward trend.
Peterson, who is considering historical data, said that since September 21, there is a 70% chance that Bitcoin will surpass the year. He also claimed that the median gain over this period was above 50%. Analysts call this “Bitcoin bottom day.”
Peterson noted that this trend has only reversed in 2018 and 2022, with both years being marked by the situation in the Bear market, but these situations do not exist today. Therefore, he said he increased the chances of Bitcoin in the rally after September 21 to 90%.
Peterson also argued that there is almost a 100% chance that Bitcoin will remain high after September 21st, not just within the end of the year, but within six months. Given this data, analysts argued that it is very unlikely that Bitcoin will fall below $100,000 again.
*This is not investment advice.
