Cryptocurrency analyst Timothy Peterson highlighted September 21st as a significant indicator of Bitcoin's performance. He believes this date marked the turning point that marked Bitcoin's upward trend for the remainder of the year.
Peterson, examining historical data, stated that there's a 70% probability that Bitcoin will close the year higher after September 21st. He also argued that the median gain during this period was over 50%. The analyst calls this “Bitcoin Bottom Day.”
Peterson noted that this trend was only reversed in 2018 and 2022, noting that both years were marked by bear market conditions, but these conditions are absent today. Therefore, he said, he increased Bitcoin's probability of a post-September 21st rally to 90%.
Peterson also claimed that there's a nearly 100% probability that Bitcoin will remain higher after September 21st, not just at the end of the year but also within six months. Given this data, the analyst argued that the likelihood of Bitcoin falling below $100,000 again is extremely low.
*This is not investment advice.
