Economist Timothy Peterson Says “This Decline Has Been Seen 45 Times Before in Bitcoin”, Reveals Price Movement He Expects After This
Bitcoin (BTC) has experienced a significant decline, falling 25% in just 10 days.
Economist Timothy Peterson, known for his expertise on cryptocurrency trends, stated that such a sharp decline is rare. “Bitcoin fell -25% in 10 days. This has only happened 45 times since 2015,” he said.
Peterson examined historical data to give insight into what investors can expect in the coming days. According to his analysis, on average:
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- 10 days after the drop: In 62% of historical instances, Bitcoin has recovered with an average gain of 17%. Conversely, if the downward trend continues, the average loss was around 7%.
- 20 days after the crash: The recovery picture becomes more nuanced. Bitcoin has only fully recovered 15% of the time. Even more worrying, in 35% of the cases Bitcoin continued to fall, with additional losses ranging from 7% to a staggering 30%.
Historically speaking, an additional 15% drop in BTC price seems consistent, according to the analyst.
*This is not investment advice.