Cryptocurrency analyst Timothy Peterson has shared a remarkable seasonal analysis of Bitcoin's price movements.
According to Peterson, September 21st is the worst day of the year for Bitcoin. The analyst argued that there's about an 80% chance Bitcoin will fall on that date.
According to Peterson's data, the average daily loss on September 21st was one of the steepest declines of the year, with a median daily loss of -2.00%. March 22nd came in second with a daily loss of -1.52%, and September 24th came in third with a daily loss of -1.50%. This makes two of Bitcoin's three worst days of the year in just four days.
The analyst also reminded that Bitcoin lost 6.5% of its value in August and predicted that, in line with this seasonal pattern, the price could be in the range of $97,000 – $113,000 by the end of September.
Peterson added that such fluctuations are part of a seasonal pattern that goes back many years.
At the time of writing, the BTC price is trading at $111,253.
*This is not investment advice.
