Bitcoin gets $126K June target as data predicts bull market comeback

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Coin Telegraph 10h ago

Bitcoin gets $126K June target as data predicts bull market comeback - Coin Telegraph

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The extent of the drop is characteristic of bull market corrections, and Peterson keenly senses the potential for a comeback.“Bitcoin is trading near the low end of its historical seasonal range,” he determined alongside a chart comparing BTC price cycles. “Nearly all of Bitcoin's annual performance occurs in 2 months: April and October. It is entirely possible Bitcoin could reach a new all-time high before June.”Bitcoin seasonal comparison.

Continuing, Peterson stipulated a median target of $126,000 with a deadline of June 1. Alongside a chart showing the performance of $100 in BTC, he also revealed that limp bull market performance has always been temporary.“Bitcoin average time below trend = 4 months,” he explained.“The red dotted trend line = $126,000 on June 1.”Bitcoin growth of $100 comparison.

Source: Timothy Peterson/XA standard Bitcoin bull market comedownOther popular market commentators continue to emphasize that Bitcoin’s recent trip to $76,000 is standard corrective behavior.