Cryptocurrency analyst and trader Jason Pizzino outlines when Bitcoin (BTC) could rise and hit a new all-time high.
In a new video, Pizzino tells According to its 345,000 YouTube subscribers, Bitcoin is likely to remain below its all-time high of around $108,200 for more than a week, but not for more than half a year.
According to Pizzino, the longer Bitcoin consolidates below its all-time high, the stronger the upward movement that could follow will be.
“I Don’t think we’ll be doing it for about six months under that top [of around $108,200]. What we do expect is a longer period below the top, no more than six months, but longer than what we have seen now. And what we have currently seen is 13 days below that peak.”
The widely followed analyst says Bitcoin could break below the current all-time high in the early weeks of the first quarter of 2025.
“So sometime around that inauguration [of President-elect Donald Trump on January 20th, 2025]. So those might be some of the reasons why people get really excited about why this thing should go up from there. You know Trump is in and then they start to get a little excited and the cycle rinses and repeats and we get a nice advantage.
If that’s the case, that’s a good move, or at least a good time below this top [of $108,200] especially now that we’ve reached a fresh new all-time high…
Basically call it January for some kind of low and then a potential breakout to a new fresh high that could come in late January or February. So that’s the main thing I’m looking forward to in the first quarter [of 2025].”
Bitcoin is trading at $94,528, about 13% below its all-time high, at the time of writing.
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