As Bitcoin continues to trade within a relatively narrow range, one market analyst believes the end of its current correction phase may be closer than expected.
Timothy Peterson, an economist recognized for his commentary on crypto market behavior, has suggested that Bitcoin’s current downtrend is likely to wrap up within the next 40 days. Drawing from historical data on past market corrections, Peterson argued that such consolidation phases rarely extend beyond that timeframe.
Earlier in the month, during a brief dip in BTC’s price, Peterson anticipated a pullback to around $73,000 before any major rebound. However, since making that call, Bitcoin has largely hovered above the $80,000 mark, showing resilience despite macroeconomic tensions—including rising friction between the U.S. and China over trade.
As of now, Bitcoin is trading near $84,800, posting modest daily gains of about 0.64%. The broader crypto market also edged upward slightly, with total market capitalization sitting around $2.66 trillion. Meanwhile, Ethereum—the second-largest cryptocurrency by market cap—continues to lag behind, posting a small loss of 0.63% on the day.
Although Peterson’s short-term bearish outlook has not fully materialized, he remains firm in his belief that the current cooling period won’t last much longer. Should his timing prove accurate, a new wave of volatility—or a potential breakout—could hit the markets by early summer.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/here-is-when-we-can-expect-the-end-of-bitcoins-correction-according-to-this-economist/