Cryptocurrency analyst and trader Jason Pizzino is outlining when Bitcoin (BTC) could rally and reach a new all-time high.
In a new video, Pizzino tells his 345,000 YouTube subscribers that Bitcoin is likely to stay below the record high of around $108,200 for more than one week but not for more than half a year.
[adinserter block="1"]According to Pizzino, the longer Bitcoin consolidates below the all-time high, the stronger the upward move that could follow will be.
“I don’t think we’re in the midst of something like six months underneath that top [of around $108,200]. What we do expect is a longer period of time under the top, not more than six months, but longer than what we have currently seen. And what we have currently seen is 13 days underneath that top.”
The widely followed analyst says Bitcoin could start breaking out from under the current all-time high beginning in the early weeks of the first quarter of 2025.
“So somewhere around that inauguration [of President-elect Donald Trump on January 20th, 2025]. So that might be some of those reasons that people get really excited as to why this thing should go up from that point. You know Trump’s in and then they start to get a little bit excited and the cycle sort of rinses and repeats and we get a nice upside.
If that is the case, that’s going to be a good move or at least a good amount of time underneath this top [of $108,200] especially as we have broken out into a new fresh all-time high…
Basically call it January for some sort of low and then potential breakout to a new fresh high which might come in late January or into February. So that’s the big thing that I’m looking out for quarter one [of 2025].”
Bitcoin is trading at $94,528, about 13% below the all-time high, at time of writing.
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