Bitcoin’s Performance: A Key Date

Cryptocurrency analyst Timothy Peterson highlighted September 21st as a significant indicator of Bitcoin’s performance. He believes this date marked the turning point for Bitcoin’s upward trend for the remainder of the year.

According to Peterson, historical data shows a 70% probability that Bitcoin will close the year higher after September 21st. He argued that the median gain during this period was over 50%. He refers to this phenomenon as “Bitcoin Bottom Day.”

Peterson noted that this trend was reversed only in 2018 and 2022, both years marked by bear market conditions, which are absent today. As a result, he increased his estimation of a post-September 21st rally to 90%.

He also claimed there’s a nearly 100% probability that Bitcoin will remain higher after September 21st, not only by the end of the year but within six months as well. Given this data, Peterson stated that the likelihood of Bitcoin falling below $100,000 again is extremely low.

This is not investment advice.