Bitcoin (BTC) has dipped below $60,000 — but BTC price action is still mimicking the heart-popping 2022 balderdash run.

The latest data covering Bitcoin'south electric current halving bicycle versus its previous i shows merely how similar 2022 and 2022 really are.

Bitcoin prints more eerie 2022 similarities

Bitcoin has had its ups and downs this twelvemonth, but as Cointelegraph reported, BTC/USD has all simply copy-pasted its 2022 fractal all along.

Fresh assay delivers the same conclusion — and for those concerned nearly Oct. 27'south drop to $58,000, fifty-fifty this is cipher new.

Astonishingly, the dates of price phenomena in September and October 2022 practically match 2022. Drawing from earlier assay tweeted by TechDev, popular Twitter account Smart Crypto called for an "explosion" in time for 2022.

BTC/USD comparison chart. Source: Smart Crypto/Twitter

Utilizing Fibonacci sequences, should the rest of the quarter follow the same timeline every bit four years ago, significantly college prices are in shop for Bitcoin. Existence an order of magnitude higher than the 2022 peak, these prices could hitting $300,000.

Trader bets on a deeper BTC price correction

In the short term, however, those overly long on BTC may face some serious hurting, analysts warn.

Related: Bitcoin drops $1K in v minutes in fresh dip below $60K

Filbfilb, the trader who forecast a potential drib to $50,000 this calendar week, reiterated on Oct. 27 that even $57,000 looks to be unreliable every bit a potential local price floor.

Funding rates continued to decrease as BTC/USD hovered at around $59,000 prior to the United States market opening.

Bitcoin funding rates nautical chart. Source: Bybt