Crypto analyst Jason Pizzino is predicting a continued downturn for Bitcoin (BTC). He shared his bearish outlook with his 345,000 YouTube followers.
Pizzino’s Bitcoin Price Targets
Pizzino believes Bitcoin will likely stay below its all-time high of around $108,200 for a considerable period. He identifies key support levels:
- $91,750: A break below this level significantly increases the likelihood of Bitcoin dropping to the mid-$80,000s, potentially even as low as $82,000-$83,500 within the next couple of weeks.
- $85,000:
Falling below this level could trigger a more substantial correction. - $73,000-$74,000: A drop below these previous highs would be a major warning sign, indicating a very weak market.
A Lengthy Correction?
Pizzino points out that Bitcoin has been trading below its all-time high for 14 days—the longest such period since its November 5th, 2024 breakout above $74,000. He suggests that the recovery from the current price (around $93,360 at the time of writing) to the previous high could take a while, especially after the recent surge in bullish sentiment. He views this as a necessary “reset” for the market.
Disclaimer:
This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>
