Cryptocurrency analyst and trader Jason Pizzino outlines when Bitcoin (BTC) could rise to a new all-time high.
In a new video, Pizzino tells his 345,000 YouTube subscribers that Bitcoin will likely remain below the record high of $108,200 for more than one week, but no more than six months.
According to Pizzino, the longer Bitcoin consolidates below its all-time high, the stronger the subsequent upward move will be.
“I I don’t think we’re anywhere from six months below that peak. [of around $108,200]. What we do expect is a longer period of time below the top, no more than six months, but longer than what we are seeing now. And what we see now is 13 days below that top.”
A widely popular analyst says Bitcoin could begin to break out from below its current all-time high starting in the early weeks of the first quarter of 2025.
“So sometime around the time of the inauguration [of President-elect Donald Trump on January 20th, 2025]. So that might be one of the reasons why people are really excited about why this thing is going to go up from here on out. You know Trump is in and then they start to get a little worried and the cycle sort of rinses and repeats and we get some nice upside potential.
If so, then it will be a good move, or at least a good amount of time under that top. [of $108,200] especially since we have reached a new all-time high…
Basically call it January where there will be some sort of low and then a potential breakout to another new high which could come in late January or February. So that’s the main thing I’m looking forward to in the first quarter. [of 2025]”
Bitcoin is trading at $94,528, about 13% below its all-time high at the time of writing.
Generated image: Midjourney
