Analysis: April and October are traditionally strong months for Bitcoin, and BTC may see a strong rebound before June
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Odaily reports that analyst Timothy Peterson pointed out in a new chart report that Bitcoin is about to enter its traditional strong months - the "golden window" of April and October. If the historical seasonal pattern repeats, Bitcoin is expected to challenge $126,000 before June 1, representing over 50% upside potential from the current price of $82,967. He stated that Bitcoin's current price is already close to the lower end of the historical seasonal volatility range, and emphasized in his chart analysis that "the average duration of Bitcoin being below the trend line is only 4 months, and the red dotted trend line points to a target of $126,000 on June 1, which is highly consistent with the explosive pace after the bull market correction." The data shows that there have been five corrections of more than 20% in the current cycle since 2023, but each correction has been followed by stronger upward momentum. The bull market has not yet left, and the current situation is just a short-term correction. Market observers generally believe that the correlation between Bitcoin and traditional financial assets has increased, and it may be affected by the volatility of US stocks in the short term, but its unique deflationary attributes and geopolitical hedging demand will enable it to break out an independent market before June.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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