Analysis: The current BTC trend is highly similar to the 2022 bear market, and a price rebound may occur in Q1 next year
ChainCatcher news, according to Cointelegraph, economic analyst Timothy Peterson posted on X stating that the current bitcoin trend is highly similar to the 2022 bear market. From both daily and monthly charts, the correlation between this year's and 2022's bitcoin daily charts is 80%, while the monthly correlation is as high as 98%. If history repeats itself, a true recovery in bitcoin price may not occur until the first quarter of next year.
During the past month's decline, cryptocurrencies have been hit significantly harder than stocks, but signs of a rebound are rapidly increasing. Changes in macro sentiment could still trigger the classic "Christmas rally" for risk assets before the end of the year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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