Bitcoin’s Surge to Key Level May Lead to Earlier Peak, Analyst Predicts

By Daisy Hodley Feb 21, 202441Views

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Bitcoin Could Reach Cycle Peak Sooner Than Expected, Analyst Says

A popular crypto analyst suggests that Bitcoin (BTC) may deviate from its typical pattern and reach its cycle peak earlier than anticipated. In a recent video update, Jason Pizzino, a crypto strategist with over 312,000 subscribers on YouTube, explains that in previous cycles in 2016 and 2020, Bitcoin experienced a pullback after hitting the 50% retracement level on the monthly chart. However, this cycle has yet to see a pullback after reaching the 50% retracement level, and Bitcoin continues to trade above it.

Pizzino notes that this “unprecedented” pump in Bitcoin’s price could indicate that the market is stronger this time around. As a result, he suggests that the peak may come sooner than expected and advises being prepared for significant price increases.

At the time of writing, Bitcoin is trading at $52,464, with a nearly 6% increase over the past week.

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Daisy Hodley

Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy's insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding. A guiding star for both intrepid explorers and curious novices venturing into the crypto realm, Daisy's insights form a compass for discerning decision-making amidst the ever-shifting currents of cryptocurrencies. With the touch of a literary artist, they craft a narrative that enriches the evolving mosaic of the crypto landscape.