Bitcoin price will likely hit $22,800 before 2024 should it follow its nine-year pattern

While it is true that the crypto market tends to be arbitrary in its movement, the case with Bitcoin is slightly different. The first cryptocurrency in the world happens to have a pattern that has proved true despite the challenges from external factors. The same pattern this time around gives us an idea of where BTC might land by 2024.
Bitcoin price will most likely fall again
Bitcoin price is currently hovering above the $27,000 mark, which came after a couple of days of green candlesticks, followed by a slight dip over the past 48 days. While this in itself does not give much away, the Relative Strength Index (RSI) does.
Since the beginning of the year, the indicator has observed a three-month session during which the RSI corrects following a breach of the overbought zone beyond the 70.0 mark.
In line with this, the next three months are most likely to witness a cooldown of the market, which would be accompanied by a drawdown. Since, in the past, this period has resulted in an average decline of 18.3%, an 18.3% fall would bring BTC to $22,840.
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