Popular crypto analyst Jason Pizzino says traders should not necessarily expect Bitcoin (BTC) to witness a significant pullback before the next surge.
In a new YouTube videoPizzino 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.
Referring to Bitcoin’s climb over the past six months to an all-time high in March, the analyst estimates that Bitcoin’s current upward move could also last six months in total. Since its inception last month, Pizzino says this means BTC could peak in February.
In the recent upward move that started about a year ago, the analyst notes that BTC has risen by about 200%.
“What if we do something crazy and do half that amount from the lowest amount? Well, anyone can double $49,000 – you get $98,000. Take it to about the same time frame, $98,000 in February, which is 26 weeks. That’s not a bad start, but if you get in later your $80,000/$90,000 will be [range]When a correction comes, that’s when it starts to get quite worrying for you, to put it lightly.”
BTC is trading at $67,543 at the time of writing. The highest-ranked crypto asset by market capitalization has fallen nearly 2.5% in the past 24 hours.
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