Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
July 2, 2024

Analyst Says Bitcoin Wind-Up Is Going To Shock Many People, Predicts BTC Rally That Pushes Price Hard

By Henry Kanapi

A closely followed crypto strategist thinks that Bitcoin’s consolidation around $60,000 is setting up BTC for a big breakout in the next few months.

In a new strategy session, analyst Jason Pizzino tells his 329,000 YouTube subscribers that Bitcoin tends to lull people into boredom before igniting a huge upside move.

ADVERTISEMENT

The crypto trader notes that BTC displayed the same behavior at around the same time last year before launching a nearly 3X surge.

“This big wind-up is going to shock many, many people. Look at what happened when Bitcoin wound up for about seven months last time: March to the breakout in October [2023]. 

A big wind-up of seven months caused that huge move from $25,000 to $74,000. Not saying it has to do the exact same percentages. I’m just talking about some significant move that pushes price pretty damn hard.

I don’t know if it’s going to be a straight line like it was in the last cycle. It could be a big pump-up, a pullback and then it just takes off again.”

ADVERTISEMENT
Source: Jason Pizzino/YouTube

Pizzino also says that it appears BTC is following in the footsteps of its 2016 to 2017 bull market.

In 2016, the BTC bull market started slow before ultimately launching a parabolic rally that saw Bitcoin record a sustained uptrend for more than a year.

According to Pizzino, Bitcoin seems to be mirroring the same “organized” move up, leading him to believe that BTC may be gearing up for big rallies in the coming months.

“If that is to occur again or similar, not exactly the same, it might have a nice big stretch of three, four, maybe five quarters of green.”

Source: Jason Pizzino/YouTube

At time of writing, Bitcoin is trading for $62,824.

ADVERTISEMENT

 

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix

&nbsp
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3