Crypto Analyst Foresees Major Bitcoin Surge and Cycle End

A popular crypto delivered an optimistic outlook for Bitcoin (BTC), suggesting a potential bullish reversal that could culminate in the conclusion of the current market cycle by next year.

Jason Pizzino highlights Bitcoin’s recent price action, particularly focusing on its potential breakout from a persistent downtrend observed on the monthly chart.

Pizzino emphasizes the importance of Bitcoin closing above the crucial level of $62,700 by the end of July to establish bullish momentum.

This, he explains, could lead to a significant shift where previous resistance levels might turn into support, setting the stage for a possible reversal in the ongoing market correction that bottomed out around $53,500 recently.

Using Elliott Wave theory to substantiate his analysis, Pizzino illustrates how market movements can be forecasted in waves driven by crowd psychology. According to this theory, markets tend to move in cycles characterized by five main waves, with corrections occurring in the fourth wave and significant peaks in the fifth wave.

Based on his chart analysis, Pizzino predicts that the total crypto market cap could surge beyond $4.4 trillion by April 2025, marking a peak in the market cycle.