Cryptocurrency analyst and trader Jason Pizzino has shared his insights on when Bitcoin (BTC) could potentially rally and reach a new all-time high. Pizzino, who has a significant following on YouTube with 345,000 subscribers, believes that Bitcoin is likely to remain below its record high of around $108,200 for more than a week but not longer than six months.
According to Pizzino, the longer Bitcoin consolidates below the all-time high, the stronger the upward move that could follow will be. He stated, “I don’t think we’re in the midst of something like six months underneath that top. 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 analyst predicts that Bitcoin could potentially start breaking out from below the current all-time high in the early weeks of the first quarter of 2025. He suggests that around the time of the presidential inauguration of Donald Trump on January 20th, 2025, there could be reasons for excitement that may drive the price of Bitcoin higher. Pizzino speculates that a breakout to a new all-time high could occur towards the end of January or into February 2025.
Bitcoin is currently trading at $94,528, approximately 13% below its all-time high. Pizzino’s analysis provides a potential timeline for Bitcoin’s next rally and offers insights for investors and traders looking to capitalize on the market movements.
For more updates and analysis on cryptocurrency trends, you can follow Jason Pizzino on his YouTube channel. Stay informed and stay ahead in the ever-evolving world of crypto trading.