Bitcoin Price Rebound Prediction
Economist Timothy Peterson suggests that Bitcoin's price may recover up to 21% over the coming seven days if October's historical trends hold.
Drops of more than 5% in October are exceedingly rare. This has happened only 4 times in the past 10 years.
According to Peterson, in the week following each drop, Bitcoin (BTC) rebounded by 16% in 2017, 4% in 2018, and 21% in 2019. The only exception was 2021, when the crypto asset fell a further 3%.
- 2017: 16% rebound
- 2018: 4% rebound
- 2019: 21% rebound
- 2021: 3% further decline
October is often dubbed "Uptober" for its historically strong returns.
Author's summary: Economist predicts possible 21% Bitcoin rebound.
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