Bitcoin's trend is 98% similar to the bear market of 2022? Analyst: The real rebound may have to wait until Q1 next year.

[Block Rhythm] Recently saw analyst Timothy Peterson make a quite interesting point - the current Bitcoin trend is almost like a copy and paste of the bear market in 2022.

He compared the data and found that the daily chart of Bitcoin this year has a correlation of 80% with that of 2022, while the monthly chart is even more exaggerated, with a direct correlation of 98%. To be honest, the degree of similarity is a bit scary.

According to the rhythm of this historical repetition, the real rebound of Bitcoin may not come until the first quarter of next year. At this stage, it is highly likely still in the bottoming phase.

Of course, historical data can only serve as a reference, and the market is always full of variables. However, this highly correlated comparison at least gives us a potential time anchor. Friends who want to buy the dip may need to be a little more patient.