Bitcoin Likely to Surge Without Major Pullback, Says Crypto Analyst
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Crypto analyst Jason Pizzino believes traders shouldn't anticipate a major pullback for Bitcoin (BTC) before its next upward movement.
He recently explained that whenever traders expect a final shakeout of weaker investors before Bitcoin surges, the market often behaves contrary to those expectations.
Drawing on Bitcoin’s previous rise to an all-time high in March, Pizzino suggests that the current upward trend could also extend over six months. Since this latest rally began last month, he speculates that Bitcoin could peak around February.
Reflecting on the last significant price increase, which began about a year ago and resulted in a 200% gain, Pizzino posed an intriguing scenario: if Bitcoin were to increase by just half that amount from its recent low, it could reach approximately $98,000.
He noted that projecting this target within a similar timeframe of 26 weeks leads to a reasonable expectation of growth. However, he cautioned that for those entering the market later, prices in the $80,000 to $90,000 range could be concerning if a correction occurs.
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