Timothy Peterson of Cryptocurrency Analyst highlights the potential price action for Bitcoin (BTC) tomorrow, September 24th. Peterson said historic data points to a clear environment in Bitcoin’s performance.
According to analysts, Bitcoin usually sees a 53% increase on a given day, with a typical gain of +0.10%. However, things will be different on September 24th. On that day, Bitcoin lost 64% of its value, with a typical decline of -1.50%.
Peterson also claimed that Bitcoin had historically lost its value between September 16th and 23rd, losing its value during this period with an average drop of 5%. He argued that the forecast was confirmed by a recent decline in BTC prices.
“I don’t believe in technical analysis, I believe in repeating the cycle,” Peterson said, saying. Analysts said his charts show that Bitcoin could reach $200,000 within 170 days, showing that he sees the likelihood of this outbreak exceeding 50%.
*This is not investment advice.
