Bitcoin Trends Reveal Promising Probability of Price Surge

Bitcoin has shown an intriguing trend over the past two years, with positive closes occurring in approximately half of all months. This data point is being used by economist Timothy Peterson as an unofficial indicator to track Bitcoin cycles.

In his analysis, Peterson uses the frequency of price changes rather than their degree, allowing him to identify potential trend change points. He has estimated that the probability of Bitcoin rising in 10 months is a significant 88%.

According to CoinGlass data, Bitcoin's positive dynamics were observed in January, April, May, June, July, and September last year. Peterson's prediction suggests that during the next rally, the leading cryptocurrency will increase by 82% from current levels, approximately reaching $122,000.