dailyhodl.com
Popular crypto analyst Jason Pizzino says traders shouldn’t necessarily expect Bitcoin ($BTC) to witness a significant pullback before its next leg up.
In a new YouTube video, Pizzino tells his 335,000 subscribers that every time people expect a “final flush out” of weak hands before the $BTC market explodes, Bitcoin tends to do the opposite.
Referencing Bitcoin’s past half-year climb to an all-time high this March, the analyst estimates that Bitcoin’s current upward move could also last six months in total. Since it started last month, Pizzino says that means $BTC could top out in February.
In the past upward move that started around a year ago, the analyst notes that $BTC shot up by around 200%.
“What if we do something crazy and just do half that amount from the low? Well, anyone can double $49,000 – you get to $98,000. Take it out to roughly the same time frame, $98,000 into February, that’s 26 weeks. That’s not a bad start, but if you are getting in later, your $80,000/$90,000 [range], if there is going to be a correction, that’s where things start to get pretty concerning for you, to put it lightly.”
$BTC is trading at $67,543 at time of writing. The top-ranked crypto asset by market cap is down nearly 2.5% in the past 24 hours.
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