Bitcoin (BTC) Could Jump to $126,000 in June if History Repeats Itself, network economist Timothy Peterson says

Peterson analyzed past patterns and found out that BTC exhibits seasonal behavior in its movement. His model suggests that Bitcoin has a strong likelihood of touching all-time highs in the next two and a half months.

Network economist Timothy Peterson has predicted that Bitcoin could hit a new all-time high by June if history repeats itself.

The economist, who specializes in Bitcoin analysis, has identified a seasonal behavior in the cryptocurrency’s price movements. According to his model, there’s a strong possibility that BTC could touch new highs in the next two and a half months.

At the moment, Bitcoin is at the low point of its all-time seasonal range, which bodes well for a strong comeback, according to Peterson. Nearly all of the year’s gains occur in the April and October months, which reinforces the possibility of a new all-time high in June.

“Nearly all of Bitcoin’s annual performance occurs in 2 months: April and October,” Peterson stated. “It is entirely possible Bitcoin could reach a new all-time high before June.”

Peterson’s analysis indicates that BTC is repeating its previous cycles, particularly the massive rallies of prior bull cycles. Bitcoin’s price has decreased by about 30% from its January mid-cycle peak, which he considers typical of bull market corrections.

Despite this correction, Peterson remains bullish on Bitcoin’s upside potential. His model predicts a median value of $126,000 for Bitcoin by June 1.

Lower Price Forward Model Suggests $69K Is New Support Level

One of Peterson’s most significant Bitcoin price indicators, the Lowest Price Forward model, has accurately predicted support levels in the longer term. In 2020, the model had forecast that Bitcoin would no longer fall below $10,000 by September, and as predicted, the cryptocurrency remained above this level.

This year, the model suggests a similar level at $69,000, with a 95% probability of becoming a new support level. The model attests to the fact that Bitcoin’s recent decline is only a temporary setback and not a failure in the market.

Peterson adds that the average period of its below-trend stay is around four months, and the present weakness may be ending. His model’s dotted red trendline places BTC at $126,000 on June 1st, aligning with its previous movement patterns.

A broader market cycle of Bitcoin also hints at an extremely bullish argument. Bitcoin may be on the verge of a huge breakthrough and could surpass the $150,000 level in the latter part of this year if it follows the trend of previous bull cycles.

Bitcoin's 2024-2025 cycle mirrors 2020's explosive rally. Some analysts like Trader Tardigrade predict the current movement in BTC looks almost identical to its 2020 cycle.

In 2020, Bitcoin consolidated and then broke out in the latter half of the year in a move that took it from around $10,000 to over $60,000 in a few months. If history repeats itself, Bitcoin might have another parabolic run higher above $150,000 and could potentially reach $160,000 by the end of 2025.

The analogy between the two cycles confirms the argument for an extended bull run. In January 2024, there was a rally similar to the rally in April 2020, opening the doors for an extended upswing. If it follows the trend, it could be on the cusp of a second major rally similar to its previous doubling effect after consolidation.

As market sentiment repeats itself in the past, BTC’s near-term volatility might be only a stepping point toward all-time highs. With the present market structure in place, it could easily test its $100,000 resistance and push into uncharted territory in the near term.

If history repeats itself, the next few months might be historic for investors in Bitcoin.