Jason Pizzino, a well-known cryptocurrency analyst and trader, has recently made a bold prediction about the future of Bitcoin. According to Pizzino, Bitcoin is set to surge by 75% after surpassing a critical level. In this article, we will explore Pizzino’s prediction in more detail and provide a timeline for when this surge is expected to occur.
Firstly, it is important to understand what Pizzino means by a “critical level”. In this case, he is referring to the $42,000 price level for Bitcoin. This level has been a significant resistance point for Bitcoin in the past, meaning that the price has struggled to break through it. However, Pizzino believes that once Bitcoin surpasses this level, it will trigger a significant surge in price.
So why does Pizzino believe that Bitcoin will surge by 75% after surpassing this critical level? There are a few factors at play here. Firstly, Pizzino notes that there is currently a lot of bullish sentiment in the cryptocurrency market. This means that investors are feeling optimistic about the future of Bitcoin and other cryptocurrencies, which can lead to increased buying pressure and higher prices.
Secondly, Pizzino points to the fact that Bitcoin has been consolidating in a relatively narrow range for the past few months. This consolidation phase has been characterized by lower volatility and lower trading volumes. However, Pizzino believes that once Bitcoin breaks out of this range and surpasses the $42,000 level, it will trigger a wave of buying activity that will push the price up significantly.
So when can we expect this surge to occur? Pizzino has provided a timeline for his prediction. He believes that Bitcoin will break through the $42,000 level in late August or early September of 2021. Once this happens, he expects the price to surge by 75% within the following three months. This would put the price of Bitcoin at around $73,500 by the end of the year.
Of course, it is important to note that cryptocurrency markets are notoriously volatile and unpredictable. While Pizzino’s prediction is based on sound analysis and a deep understanding of the market, there is always a chance that unexpected events could cause the price of Bitcoin to move in a different direction.
In conclusion, Jason Pizzino’s prediction that Bitcoin will surge by 75% after surpassing the $42,000 level is certainly an exciting prospect for cryptocurrency investors. While there are no guarantees in the world of cryptocurrency, Pizzino’s analysis and timeline provide a useful framework for understanding how the market might evolve in the coming months. As always, investors should do their own research and make informed decisions based on their own risk tolerance and investment goals.
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- Source: https://zephyrnet.com/bitcoin-to-explode-by-over-75-once-it-overcomes-critical-level-predicts-jason-pizzino-heres-the-timeline/