Bitcoin (BTC), the leading cryptocurrency, has experienced a notable decline, erasing the gains it achieved following the recent decision by the US Federal Reserve (Fed) to cut interest rates.
After soaring to nearly $118,000—just 5% shy of its all-time high—the market has faced renewed uncertainty. Despite this setback, experts emphasize that the long-term outlook for Bitcoin remains optimistic, especially as September 21 approaches, a date identified as pivotal for Bitcoin’s price trajectory.
Will September 21 Mark The Start Of A New Bull Run?
Market analyst Timothy Peterson highlights that historically, Bitcoin has finished the year higher 70% of the time after September 21, with a median increase exceeding 50%. He has dubbed this date “Bitcoin Bottom Day,” suggesting that the odds of a price increase are significantly favorable.
Peterson notes that two of the three downturns in Bitcoin’s history occurred during established bear markets in 2018 and 2022,
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