Analysis: BTC May Rebound in Q1 Next Year, Current Trend Highly Resembles 2022 Bear Market

BlockBeats News, November 30th, according to Cointelegraph, analyst Timothy Peterson stated that the current Bitcoin trend bears a high resemblance to the 2022 bear market. From a daily and monthly perspective, the correlation of Bitcoin's price action this year to 2022 is 80% on the daily chart and as high as 98% on the monthly chart. If history repeats itself, the true recovery of Bitcoin's price may not happen until the first quarter of next year.