Analyst Jason Pizzino calls the condition for the growth of the BTC rate by 80%
The expert believes that as soon as the asset will overcome the zone from $28 000 to $32 000, the crypto market will have “less of the bears and more of the bulls”
25.05.2023 - 13:45
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The material is not an investment recommendation and is published for information purposes only.
What’s new? According to crypto analyst Jason Pizzino, the BTC rate can grow by 80% of its current value once it rises above a key resistance zone. He explained that bitcoin may face serious resistance at the level of $28 000 to $32 000, but if it is overcome, the price of the asset will reach $48 000. The expert also believes that when this zone breaks through, there will be “less of the bears and more of the bulls” on the crypto market.
What else did the analyst say? According to Pizzino, most crypto users believe that the bitcoin rate will soon set new cycle lows. He noted that such predictions will become fewer and fewer as the $28 000 to $32 000 range is crossed. In that case, $48 000 will act as the next level, after which BTC may rise to new all-time highs (ATH).
In addition, the crypto analyst believes that in the future bitcoin will grow more steadily if its price increases in small incremental steps, rather than sharp jumps. “The more we go up in these little stair-stepping movements, the better that is for Bitcoin because there’s more stability in price at lower levels,” Pizzino explained.
As of May 25, 13:00 UTC, bitcoin is trading on Binance at $26 409, having decreased by 1,07% per day.
In January, Pizzino called the end date of the bear market. In his opinion, the recession cycle will last for another five months, during which one can accumulate bitcoins.
In February, Pizzino stated that BTC is ready for growth, specifying that the asset will see a short-term decline before that. At that time, the analyst called $20 700, $19 800, and $18 600 as the key levels in terms of decline.
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