Bitcoin (BTC), It experienced a significant decline, falling 25% in just 10 days.
Economist Timothy Peterson, known for his expertise in cryptocurrency trends, said that such a sharp decline is rare. “Bitcoin fell -25% in 10 days. This has only happened 45 times since 2015,” he said.
Peterson looked at historical data to give investors an idea of what to expect in the coming days. According to his analysis, on average:
- 10 days after the drop: In 62% of historical examples, Bitcoin recovered with an average gain of 17%. Conversely, if the downtrend continued, the average loss was around 7%.
- 20 Days After the Drop: The recovery picture becomes more nuanced. Bitcoin only fully recovered 15% of the time. More worryingly, Bitcoin continued to fall in 35% of the cases, with additional losses ranging from 7% to a staggering 30%.
According to the analyst, historically speaking, an additional 15% drop in BTC price seems reasonable.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/ekonomist-timothy-peterson-bu-dusus-bitcoinde-daha-once-45-kez-gorulmustu-dedi-bundan-sonra-bekledigi-fiyat-hareketini-acikladi/
