Crypto analyst Jason Pizzino thinks Bitcoin (BTC) is about to go on a wild ride. He believes the recent price action suggests that Bitcoin has already hit its bottom and is ready for a major surge.
A “Blow-Off Top” is Coming
Pizzino, who has over 330,000 subscribers on YouTube, says Bitcoin could experience a “blow-off top” in the next few quarters. This means a rapid price increase followed by a sharp decline.
He points to the recent increase in trading volume and higher closing prices on the daily chart as evidence that Bitcoin is on the verge of a big move. He thinks Bitcoin could see a strong rally in the fourth quarter of 2024 and into 2025.
A Timeline for Bitcoin’s Surge
Pizzino predicts that Bitcoin might see one or two more “red quarters” (quarters with negative price performance) before the big rally begins. However, he emphasizes that this is just speculation based on recent data.
Bitcoin is currently trading at around $64,600. While it’s down slightly in the past 24 hours, it’s up more than 12% over the past week.
Disclaimer
It’s important to remember that this is just one analyst’s opinion. Crypto markets are highly volatile, and investing in Bitcoin carries significant risk. Always do your own research before making any investment decisions.
