Cryptocurrency analyst Jason Pizzino predicts a significant move is coming for Bitcoin (BTC) and other crypto assets.
Bitcoin’s Bullish Outlook
According to Pizzino, Bitcoin has recently experienced a period of low volatility, which often precedes a major price movement. He believes the next move for Bitcoin is likely to be upwards.
“We’ve seen one of the smallest range days since January,” Pizzino said. “Typically when this happens, you see a significant move to the upside.”
Altcoins’ Stealthy Gains
Pizzino also notes that the combined market cap of altcoins is in a similar phase to previous periods that preceded a breakout. He expects the stronger altcoins to make significant gains when the market moves higher.
“I see this as a stealth move for the altcoins,” Pizzino said. “The stronger ones are going to get the gains when this breaks out.”
Consolidation Phase for Bitcoin
Pizzino believes that Bitcoin will need to consolidate above $72,000 before it can break its all-time high of $73,800.
“It doesn’t mean we’re going to blow up in a matter of days or weeks,” Pizzino said. “But I think we could still take a bit of time here.”
