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Economist Timothy Peterson pointed out a remarkable historical model regarding the Bitcoin (BTC) market in his assessment.
According to Peterson, the period he calls the "Bitcoin Bastille Day Rally" will begin on July 14, and this date may herald an important recovery phase for Bitcoin.
In his analysis based on past data, Peterson stated that Bitcoin has generally experienced a strong rise in the years when it performed poorly, starting from Bastille Day. Peterson noted that this rally typically begins on July 14 and lasts until July 30, emphasizing that this two-week period is a critical time when Bitcoin compensates for its losses throughout the year.
Related News The Country Where Tether Keeps Its (USDT) Tons of Gold Has Been Revealed! Here are the Details
However, this rise is also accompanied by a warning for investors: According to Peterson, the ten-week period that follows this two-week recovery phase historically stands out as one of the weakest performance periods for Bitcoin.
Peterson also noted that Bitcoin behaves like a "stuck spring," arguing that in the past, Bitcoin experienced an average increase of at least 16% during positive months. However, this year so far, this rate has only remained at 9%. This indicates that in the upcoming positive months, strong movements above 16% could be seen, according to the analyst. #BTC Hits New High#