Why Bitcoin’s Previous Lows Won’t Repeat, According To Respected Analyst
The post Why Bitcoin’s Previous Lows Won’t Repeat, According To Respected Analyst appeared on BitcoinEthereumNews.com. Bitcoin (BTC), the reigning king of cryptocurrencies, is on the cusp of an exciting phase, according to prominent crypto trader Jason Pizzino. In his latest YouTube video, Pizzino delves into the intricacies of Bitcoin’s four-year cycle and shares his belief that the digital currency is unlikely to revisit its previous cycle lows. This analysis is based on historical data that reveals a compelling pattern in Bitcoin’s price movements. One of the key factors driving Pizzino’s outlook is Bitcoin’s four-year cycle, a well-documented phenomenon in the world of cryptocurrency. This cycle refers to the period between each Bitcoin halving event, which occurs approximately every four years. During a halving event, the reward for mining new Bitcoins is reduced by half. These events, in turn, have a profound impact on Bitcoin’s supply dynamics and often trigger significant price fluctuations. “The main thing is it is almost guaranteed that $15,500 is not going to break,” Pizzino explains. “And potentially we won’t see closes under the March low either, which is at $19,500, something that I’ve talked about for a long time on the channel now.” This suggests that Bitcoin is poised to maintain its key support levels, marking the end of a bearish phase and the start of a new bull market. Comparing Bitcoin To Traditional Markets To gain a more comprehensive perspective on Bitcoin’s performance, Pizzino also compares its movements to those of traditional markets, particularly the S&P 500. He highlights that within the four-year cycle, the S&P 500 typically reaches a new all-time high before Bitcoin manages to do the same. Total crypto market cap currently at $1.06 trillion. Chart: TradingView.com This pattern, observed during previous accumulation years, demonstrates Bitcoin’s resilience and potential for long-term growth. In another notable development, the Bitcoin-to-Gold ratio has undergone a substantial transformation over the past…
The post Why Bitcoin’s Previous Lows Won’t Repeat, According To Respected Analyst appeared on BitcoinEthereumNews.com.
Bitcoin (BTC), the reigning king of cryptocurrencies, is on the cusp of an exciting phase, according to prominent crypto trader Jason Pizzino. In his latest YouTube video, Pizzino delves into the intricacies of Bitcoin’s four-year cycle and shares his belief that the digital currency is unlikely to revisit its previous cycle lows. This analysis is based on historical data that reveals a compelling pattern in Bitcoin’s price movements. One of the key factors driving Pizzino’s outlook is Bitcoin’s four-year cycle, a well-documented phenomenon in the world of cryptocurrency. This cycle refers to the period between each Bitcoin halving event, which occurs approximately every four years. During a halving event, the reward for mining new Bitcoins is reduced by half. These events, in turn, have a profound impact on Bitcoin’s supply dynamics and often trigger significant price fluctuations. “The main thing is it is almost guaranteed that $15,500 is not going to break,” Pizzino explains. “And potentially we won’t see closes under the March low either, which is at $19,500, something that I’ve talked about for a long time on the channel now.” This suggests that Bitcoin is poised to maintain its key support levels, marking the end of a bearish phase and the start of a new bull market. Comparing Bitcoin To Traditional Markets To gain a more comprehensive perspective on Bitcoin’s performance, Pizzino also compares its movements to those of traditional markets, particularly the S&P 500. He highlights that within the four-year cycle, the S&P 500 typically reaches a new all-time high before Bitcoin manages to do the same. Total crypto market cap currently at $1.06 trillion. Chart: TradingView.com This pattern, observed during previous accumulation years, demonstrates Bitcoin’s resilience and potential for long-term growth. In another notable development, the Bitcoin-to-Gold ratio has undergone a substantial transformation over the past…
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