Odaily News Economic analyst Timothy Peterson stated on the X platform that the current Bitcoin trend is highly similar to the Bear Market of 2022. From the daily chart and monthly chart perspective, the correlation of Bitcoin's daily chart this year with 2022 is 80%, while the monthly correlation is as high as 98%. If history repeats itself, the true rebound in Bitcoin's price may not occur until the first quarter of next year. During the past month’s fall, the impact on Crypto Assets has been significantly greater than that on stocks, but signs of a rebound are rapidly increasing. Changes in macro sentiment may still trigger a classic “Christmas rally” for risk assets before the end of the year.
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Analysis: The BTC price rebound may occur in Q1 next year, and the current trend is highly similar to the Bear Market of 2022.
Odaily News Economic analyst Timothy Peterson stated on the X platform that the current Bitcoin trend is highly similar to the Bear Market of 2022. From the daily chart and monthly chart perspective, the correlation of Bitcoin's daily chart this year with 2022 is 80%, while the monthly correlation is as high as 98%. If history repeats itself, the true rebound in Bitcoin's price may not occur until the first quarter of next year. During the past month’s fall, the impact on Crypto Assets has been significantly greater than that on stocks, but signs of a rebound are rapidly increasing. Changes in macro sentiment may still trigger a classic “Christmas rally” for risk assets before the end of the year.