Cryptocurrency expert Timothy Peterson has drawn attention to the potential movement of Bitcoin’s price on September 24. He emphasized that historical trends reveal a distinct pattern in Bitcoin’s behavior.
Peterson pointed out that, generally, Bitcoin experiences a 53% increase on any given day, with an average rise of +0.10%. However, September 24 presents a different scenario; historically, Bitcoin has seen its value drop by 64%, with an average decrease of -1.50%.
The analyst further noted that between September 16 and September 23, Bitcoin tends to lose value consistently each year, averaging a decline of about 5% during this timeframe. He suggested that this forecast aligns with the recent downturn in BTC prices.
Peterson distanced himself from traditional technical analysis techniques by stating: “I don’t subscribe to technical analysis; I trust in recurring cycles.” According to his projections, there is over a 50% chance for Bitcoin to hit $200,000 within the next 170 days based on cyclical patterns observed in his data.
*This information should not be considered as investment advice.