Bitcoin Bastille Day Rally
Economist Timothy Peterson highlighted a notable historical trend in the Bitcoin (BTC) market. He predicts that the “Bitcoin Bastille Day Rally” will commence on July 14, potentially signaling a significant recovery for Bitcoin.
According to Peterson’s analysis of historical data, in years of Bitcoin underperformance, a robust rally often starts around Bastille Day. This rally typically occurs from July 14th to July 30th, which he considers a crucial time for Bitcoin to regain yearly losses.
However, Peterson cautions investors that the ten weeks following this recovery period are historically among Bitcoin’s weakest performance phases.
Additionally, he described Bitcoin as behaving like a “compressed spring,” stating that in the past, Bitcoin has averaged a 16% increase in positive months. Yet, this year, it has only achieved 9%, indicating the potential for significant upward movement in upcoming positive months.
> This is not investment advice.
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