Bitcoin (BTC) can hit new all-time highs by June this year if historical patterns repeat, network economist Timothy Peterson said.
Data uploaded to X on March 15 gives BTC/USD around two-and-a-half months to beat its $109,000 record.
April could spark 50% BTC price upside
Bitcoin has declined 30% after topping out in mid-January. 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. Source: Timothy Peterson/X
Peterson has created various Bitcoin price metrics over the years. One of them, Lowest Price Forward, has successfully defined levels below