Bitcoin Enters 'Risk Zone'... Analysts Say "Increased Volatility Possible in the Coming Weeks"

Bitcoin (BTC) is showing a pattern similar to previous cycles, raising the outlook for heightened short-term volatility. Experts particularly pointed to the next 2–3 weeks as potentially a crucial turning point for the market.

According to the cryptocurrency-specialized media outlet Coinpedia on the 22nd (local time), cryptocurrency analyst Benjamin Cowen stated, "In Bitcoin’s previous two cycles, it took about 1,060 days to reach the peak," and "Currently, about 1,016 days have passed, so if historical patterns repeat, the peak may occur between October and December." He added, "Although Bitcoin has never recorded its peak in October before, this cycle may make October a notable period."

Rekt Capital, another analyst, also analyzed the weekly price trend, stating, "Bitcoin tends to experience peak volatility in the 6th to 8th weeks of its cycle," and "currently, it has entered a zone where volatility could again increase." He mentioned that in the past there have been △ corrections after 6 weeks of rises and a correction in the 7th week in 2013, △ a 34% drop in the 8th week after 7 weeks of gains in 2017, and △ a 30% drop after 6 weeks of increases from 2020–21.

He explained, "In the 6th to 8th weeks, there are often short-term dips and turbulence, but these periods have frequently led to bullish phases afterward."

The media outlet added, "From a technical perspective, Bitcoin is showing a correction as it fails to break through the $114,000 resistance on the daily chart," and "this resembles a typical mid-term correction that has appeared during previous bullish trends."