Jason Pizzino, a well-known cryptocurrency expert, is outlining a schedule for when Bitcoin (BTC) can reach an all-time high above $69,000.
In a fresh strategy lesson, Pizzino informs his 292,000 YouTube viewers that Bitcoin has a history of going through accumulation stages and bear markets following the peak of the S&P 500.
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Since the S&P 500 is now trading significantly below its peak and may be stabilising between 4,400 and 3,700, Pizzino believes that at some point during the next eleven months, the S&P may rise to new heights, driving up the price of Bitcoin.
Bitcoin (BTC) All-Time Highs: Insights from Analyst Jason Pizzino,Bitcoin (BTC) All-Time Highs: Insights from Analyst Jason Pizzino
According to his projections, the S&P 500 will have reached new highs by September 2024, and Bitcoin may be aiming for the $70,000 mark once more.
“The S&P 500 has reached new all-time highs on each of those instances, while Bitcoin has fallen short of its own all-time high. We still remain below the all-time high, and this accumulation will probably cease in around 11 months, give or take a month or two on each side.
As macrocycles, these statistics require some flexibility, but in general, we’re about halfway through that accumulation phase, or at the very least, we have half the time left before Bitcoin breaks out from its previous all-time high of $69,000.
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We may then begin tossing around a few numbers or dates after keeping that in mind. We expect a time frame of about eleven months. It takes us to September of 2024, which means that Bitcoin may reach beyond $60,000 or $70,000 somewhere in the second half of 2024.
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