Cryptocurrency analyst and trader Jason Pizzino is warning that late investors in Bitcoin’s (BTC) current bull market may end up disappointed.
In a new video, Pizzino tells his 345,000 YouTube subscribers that latecomer investors may be hoping for another round of massive gains that just may never materialize.
[adinserter block="1"]“Volatility always occurs at the ends of cycles, because you see a lot of money flowing into the markets trying to take advantage of the gains that they missed out on for the several years prior.
Bitcoin, they missed out on the several years prior from the lows [around November 2022], and where we find ourselves now is up over 500%. They’re hoping that they get another 500% from here because of what they saw previously. But unfortunately, it’s probably one of those games where you’ll see less and less returns to the upside compared to what we have seen over the last two years. I hope I’m wrong.”
Pizzino also warns that Bitcoin may have a significant correction if the higher support levels continue to act as resistance.
“If we do get a weaker top that forms, I’d be looking out for a bigger rejection there and seeing if the market still has legs in it to consolidate and then move higher from that point.”
Looking at his chart, the analyst suggests Bitcoin may correct to around $87,000 before potentially consolidating and breaking out into six figures again.
Bitcoin is trading for $96,845 at time of writing, down 5.2% in the last 24 hours.
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