CoinKing reported:
Popular cryptocurrency analyst Jason Pizzino suggests that traders may not necessarily expect a significant pullback before the next rally of Bitcoin (BTC).
In a new YouTube video, Pizzino tells his 335,000 subscribers that Bitcoin tends to do the opposite when people expect a breakout in the BTC market, with weak hands being “washed out” last.
Referring to Bitcoin’s climb to its all-time high in the past six months in March this year, the analyst estimates that the current rally of Bitcoin could last another six months. Pizzino suggests that this means BTC could potentially reach its peak in February.
The analyst points out that in the previous rally that started about a year ago, BTC surged by around 200%.
“What if we do something crazy and do half the amount from the low? Well, anyone can double $49,000 to $98,000. Put it in roughly the same time frame, February for $98,000, 26 weeks. That’s not a bad start, but if you get in later, your range of $80,000/$90,000, if there is a pullback, that’s where you start to get a little worried, to put it lightly.”
Source: Jason Pizzino/YouTube
At the time of writing this article, BTC was trading at $67,543. The top-ranked crypto asset has seen a decrease of nearly 2.5% in the past 24 hours.
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