Bitcoin is entering a historically strong period, with April and October traditionally bullish months for BTC, according to one analyst. If historical seasonal patterns continue, analyst Timothy Peterson suggests that Bitcoin could surge to $126,000 before June 1, 50% above its current price of $82,967.
In a newly published chart analysis, Peterson notes that Bitcoin’s current price is near the lower end of its seasonal volatility range. Historically, he notes, Bitcoin has only held below the trendline for an average of four months before rebounding. Peterson’s chart shows a red dotted trendline pointing directly to a target of $126,000 as of June 1, consistent with past post-correction bull market swings.
Peterson noted that Bitcoin has seen five corrections exceeding 20% since 2023, but each was followed by a stronger rally. “The bull market is not over, this is just a short-term correction,” he said.
Market watchers agree that Bitcoin\'s correlation with traditional financial markets has increased and it has become sensitive to short-term U.S. stock market fluctuations.
*This is not investment advice.