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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