Crypto analyst Jason Pizzino predicts that altcoins will see explosive gains in the coming months based on historical patterns.
In a new strategy session, Pizzino told his 308,000 YouTube subscribers that the entire cryptocurrency market capitalization, excluding Bitcoin (BTC) and Ethereum (ETH), could repeat the pattern of the last cycle and enter a massive uptrend after the halving.
The next Bitcoin halving event, in which miners’ rewards will be halved, is scheduled for April.
“November 2024 will be approximately 23 months from the cycle low point of December 2022.
Guess what? How much work gets done at the end of the year? We have elections. There are all kinds of things going on in terms of the time frame that lead us to a point where we can see explosive action. Now the biggest opportunity is emerging. Cryptocurrencies, altcoins, Bitcoin – I think there is a great opportunity here…
There are now three months left until the half-life, or about two and a half months. Last time, there was a turning point when the half-life was about three months away. So we hit the February high. Perhaps this time we hit the January high. After a month and a half of declines, the market is starting to enter the halving again. So maybe we’ll have the same kind of thing, except there won’t be a Corona-like disruption…
I think we’ll see some sort of correction here. “But I think this one will be a little more shallow than the last time and before COVID-19 hit.”
The trader also predicts that Bitcoin will not fall below $30,000 this cycle, but may correct into the mid-$30,000 range.
“As we sit now, we don’t expect the price to go down to around $30,000 during this period. Unless there is a liquidity crash at that price…
I think somewhere in the mid $30,000s would be the best scenario for where we are…
Don’t be greedy now. Because this is one of the best opportunities to win 50x Bitcoin and degenerate altcoins. “We have seen this pattern emerge in previous cycles.”
me
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