According to a report by Cointelegraph on November 30th, analyst Timothy Peterson stated that the current Bitcoin price movement is remarkably similar to the 2022 bear market. Looking at daily and monthly charts, the correlation between this year's Bitcoin price and 2022 is 80% on the daily chart and a staggering 98% on the monthly chart. If history continues to repeat itself, a true recovery in Bitcoin's price may not occur until the first quarter of next year.
Analysis: BTC may rebound in Q1 of next year; its current trend is highly similar to the 2022 bear market.
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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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