Cryptocurrency analyst and trader Jason Pizzino says Bitcoin (BTC) could hit the cycle top in the coming weeks.
In a new strategy session, Pizzino tells his 358,000 YouTube subscribers that Bitcoin could hit the cycle top in October or November based on historical precedent.
[adinserter block="1"]“November [of 2021] was the top in the last cycle. And of course, prior to that, we had December [of 2017]. Prior to that, we had 30th of November [of 2013]…
So, really, we’re looking towards most of these highs coming in quarter four.”
According to Pizzino, Bitcoin has “further to go in this cycle because we haven’t necessarily seen that crazy time like we saw in 2021 and also in 2017.”
On the price targets he is eyeing for Bitcoin, Pizzino says the crypto king could rally to a price of as high as $160,000 before the end of the year based on Fibonacci extension levels. Fibonacci extension levels are based on the Fibonacci sequence and are used to identify potential future price targets by extending the Fibonacci numbers beyond 100%.
“Now, I’ve talked about a price target of $122,000… …that Bitcoin would hit at least $122,000 in 2025, possibly $144,000. I think we’re still in the process of getting to those levels…
Beyond the mid $130,000s, we’re looking still towards the $160,000s. So overall still quite bullish here.”
Bitcoin is trading at $115,316 at time of writing.
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