Cryptocurrency analyst and trader Jason Pizzino is expressing concerns about Bitcoin (BTC) and its potential to decline further. In a recent video shared with his 345,000 YouTube subscribers, he stated that Bitcoin is probably going to see further downside and indicated that it might stay below its all-time high of approximately $108,200 for an extended period.
Pizzino highlights that the critical support level for Bitcoin at this time is around $91,750. He warns, “If it does break down from the 50%, and that’s at $91,750, then there’s a higher chance we could see a drop into the mid-$80,000s, potentially even the low-$80,000s, hovering around $83,500 and $82,000 in the next week or two.”
In his analysis, Pizzino mentions that if Bitcoin falls below $85,000, the correction could escalate beyond that point. “If anything breaks down, you start seeing closes under $73,000 and $74,000, which were previous peaks; that’s a warning sign. It’s not the end, but the market would certainly appear weak if that occurs.”
He points out the current status of Bitcoin, indicating that it has been sitting below its all-time high for the longest duration since breaking through the $74,000 mark on election day back on November 5, 2024. Pizzino notes, “It’s probably going to take longer to recover from this recent move—falling from $108,200 to its current price—especially after the extreme bullish sentiment we experienced. The silver lining is that a reset is beginning, and it is already in progress.”
Currently, Bitcoin is trading at $93,360 as of this writing. For those keen on staying updated, you can subscribe to receive email alerts directly in your inbox.
As always, it’s crucial to approach investment decisions with caution. The insights shared here do not constitute investment advice, so doing your own research is essential before making any high-risk investments in Bitcoin, cryptocurrency, or other digital assets. Remember, any trades or transfers you make are your own responsibility, and The Daily Hodl does not advocate for buying or selling cryptocurrencies or digital assets.
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