Bitcoin analyst calls February the true Uptober as data shows strong weekly returns since 2016

Bitcoin’s monthly gain is currently around 2.2%, but network economist Timothy Peterson highlights that February has historically delivered some of the cryptocurrency’s strongest weekly returns, with the week ending Feb. 21 showing a median 8.4% gain and a 60% positive close rate since 2016. Analysts including Peterson, Sminston With and Sina say macroeconomic conditions, consolidation patterns and models such as the Bitcoin Decay Channel suggest BTC could still have long-term upside potential, even after recent corrections.