Popular cryptocurrency analyst Jason Pizzino said traders should not necessarily expect Bitcoin (BTC) to witness a significant decline before its next rally.
In a new YouTube video, Pizzino tells his 335,000 subscribers that every time people expect a “last flush” from a weak hand before the BTC market explodes, Bitcoin tends to do the opposite. I will say that there is.
Analysts note that Bitcoin has risen over the past six months to an all-time high in March of this year, and predict that Bitcoin’s current rally could also last a total of six months. Since it started last month, that means BTC could top out in February, Pizzino said.
Analysts say BTC soared about 200% during the past bull market that started about a year ago.
“What if we did something crazy and did half that amount from a lower level? Well, anyone can double their $49,000 to $98,000. For about the same amount of time, 2 Let’s say you apply it to $98,000 up to the month, which is 26 weeks. That’s not a bad start, but if you come in later, it’s $80,000 or $90,000 (range), if there’s a correction, to put it mildly. That’s where I start to get really worried.”
Source: Jason Pigino/YouTube
At the time of this writing, BTC is trading at $67,543. The top crypto asset by market capitalization has fallen nearly 2.5% in the past 24 hours.
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