PANews reported on March 16 that according to Cointelegraph, Bitcoin has fallen 30% since it peaked in mid-January, but network economist Timothy Peterson believes that the bull market may make a comeback. He said: "The current trading price of Bitcoin is close to the lower end of its historical seasonal range. Bitcoin's annual performance almost all occurs in two months: April and October, which means that Bitcoin is entirely likely to hit a record high before June, with an estimated median target price of $126,000."