Get the scoop on finance - sign up for mobile alerts
Bitcoin
| On
October 22, 2024

Don’t Count on Bitcoin Correction Before Next Leg Up, According to Analyst Jason Pizzino – Here’s His Outlook

By Daily Hodl Staff

Popular crypto analyst Jason Pizzino says traders shouldn’t necessarily expect Bitcoin (BTC) to witness a significant pullback before its next leg up.

In a new YouTube video, Pizzino tells his 335,000 subscribers that every time people expect a “final flush out” of weak hands before the BTC market explodes, Bitcoin tends to do the opposite.

ADVERTISEMENT

Referencing Bitcoin’s past half-year climb to an all-time high this March, the analyst estimates that Bitcoin’s current upward move could also last six months in total. Since it started last month, Pizzino says that means BTC could top out in February.

In the past upward move that started around a year ago, the analyst notes that BTC shot up by around 200%.

“What if we do something crazy and just do half that amount from the low? Well, anyone can double $49,000 – you get to $98,000. Take it out to roughly the same time frame, $98,000 into February, that’s 26 weeks. That’s not a bad start, but if you are getting in later, your $80,000/$90,000 [range], if there is going to be a correction, that’s where things start to get pretty concerning for you, to put it lightly.”

Source: Jason Pizzino/YouTube

BTC is trading at $67,543 at time of writing. The top-ranked crypto asset by market cap is down nearly 2.5% in the past 24 hours.

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: Midjourney