Bitcoin risks 15% dip by October, but $100K is due in 2026 — Analysis
Bitcoin (BTC) can easily end up below $25,000 next month, says one longtime market observer.
In a new BTC price outlook, Timothy Peterson, founder and investment manager at Cane Island Alternative Advisors, put the odds of a dip to local lows at 50/50.
While Bitcoin bulls continue their breakout attempts above $30,000, various popular traders and analysts have their sights on lower levels.
Peterson, well known for his technical insights, now believes that typical August and September performance may yield a return to the $25,000 mark.
Uploading a chart of monthly performance statistics for BTC/USD to X, he concluded that a “last big dip” may hit before September is over. Put another way, BTC price downside over the next six weeks or so could top 15%.
“There is a 50% chance that bitcoin will drop below $25,000 before the end of September,” accompanying commentary stated.
As Cointelegraph reported, September is traditionally a “bad” month for Bitcoin bulls. Since 2017, BTC price action has finished the month lower than its starting price every year.
August, meanwhile, is a mixed bag, offering either modest gains or modest losses with 2017 as a notable exception.
Continuing, Peterson doubled down on Bitcoin’s bullish outlook.
Related: Bitcoin price can go ‘full bull’ next month if 200-week trendline stays
In addition to predicting a final significant retracement before the bull run, recent analysis gave a deadline of less than 1,000 days — less than three years — for BTC/USD to hit a giant $100,000.
This came courtesy of the “Lowest Price Forward” metric, which delivers price prognoses for specific dates in the future.
Formerly known as a calculator of Bitcoin’s “never look back price,” Its claim to fame lies in correctly
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