Cryptocurrency analyst and trader Jason Pizzino is sharing his insights on when Bitcoin (BTC) could potentially rally and reach a new all-time high. In a recent video, Pizzino, who has a substantial following of 345,000 subscribers on YouTube, suggests that Bitcoin is likely to remain below the record high of approximately $108,200 for more than a week but less than six months.
Pizzino emphasizes that the longer Bitcoin consolidates below the all-time high, the more powerful the subsequent upward movement could be. He predicts that Bitcoin may start breaking out from beneath the current all-time high in the early weeks of the first quarter of 2025.
The analyst speculates that this breakout could coincide with the inauguration of President-elect Donald Trump on January 20th, 2025. Pizzino suggests that the excitement surrounding Trump’s presidency could potentially trigger a surge in Bitcoin’s price, leading to a new all-time high.
If this scenario unfolds as anticipated, Pizzino expects a significant period of time below the $108,200 top, culminating in a potential breakout to a new high in late January or February of 2025. He highlights the first quarter of 2025 as a crucial period to watch for Bitcoin’s price action.
As of the time of writing, Bitcoin is currently trading at $94,528, representing a 13% decrease from its all-time high. Pizzino’s analysis provides valuable insights for investors and traders looking to navigate the cryptocurrency market and capitalize on potential price movements.
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Image Source: Jason Pizzino/YouTube
In conclusion, Pizzino’s analysis offers a valuable perspective on Bitcoin’s potential trajectory and the factors influencing its price movements. By staying informed and attentive to market dynamics, investors can position themselves strategically to capitalize on opportunities in the ever-evolving cryptocurrency landscape.