Bitcoin’s price history may not be as random as it sometimes appears.
Bitcoin’s price history may not be as random as it sometimes appears. Cryptocurrency analyst Timothy Peterson argues that the asset follows a seasonal rhythm, with certain days of the year showing a much higher probability of losses than others. His research highlights recurring patterns that traders might want to pay attention to as September unfolds.
A Pattern of Seasonal Weakness
Peterson’s long-term analysis suggests that Bitcoin follows a recurring seasonal rhythm. Historical data reveals that September 21 has delivered the steepest average daily decline across years, with a median loss of 2%. Other weak spots include March 22 (-1.52%) and September 24 (-1.50%), meaning two of Bitcoin’s three worst trading days occur within the same week in late September.
Bitcoin already stumbled in August, losing 6.5%, and Peterson believes the seasonal trend could pressure prices further this month. Still, he projects Bitcoin will finish September somewhere between $97,000 and $113,000, underscoring that short-term dips don’t necessarily derail the broader uptrend.
Why It Matters for Traders
Seasonal price tendencies aren’t unique to crypto — equities and commodities show similar cycles — but Peterson argues that Bitcoin’s track record makes them worth watching. Traders may treat such dates as risk alerts, especially when combined with other market stressors.
At the moment, Bitcoin is changing hands at around $111,253, leaving little room between its current price and the upper range of Peterson’s target.
While patterns like these can guide expectations, they aren’t guarantees. Market conditions, regulatory developments, and macroeconomic events can all override seasonal history. For Peterson, though, September remains a uniquely tricky month for Bitcoin, with September 21 standing out as the day to watch.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/analyst-flags-bitcoins-historically-worst-trading-day/
