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Popular cryptocurrency analyst and trader Jason Pizzino has warned that Bitcoin (BTC) may not hit new all-time highs like it has in previous bull markets.
In a new video, Pizzino tells his 279,000 YouTube subscribers that for Bitcoin to hit new all-time highs in the next bullish phase, major crypto assets hit major Fibonacci retracement levels and certain He said the resistance level needs to be crossed.
However, a crypto analyst and trader says it’s impossible to predict a new record for Bitcoin “for now.”
“Can Bitcoin Hit All-Time Highs in the Next Bull Market Cycle? So Focus on Bitcoin and Bitcoin Only, Not ETH [Ethereum]Bitcoin, not other cryptocurrencies, needs to recover above $34,500.
why?well that’s 50% [Fibonacci] Highest to lowest level ever. For Bitcoin, the all-time low is basically zero. So it should be over $34,500.
Bitcoin should also put out a monthly swing top to show that buyers are returning to the market.
When that happens, Bitcoin will likely hit new all-time highs.
For now, I can’t say we’re breaking all-time highs. What happened in the past was constantly hitting all-time highs. ”
According to Pizzino, Bitcoin could peak at $45,000 in the next cycle in a “worst case scenario.”
“If you’re looking for the worst case scenario here, there’s a 200% uptick from where that low could have formed, and if the low is $15,000, how many of these other previous tops? , it could be around $45,000.”
Bitcoin is trading at $16,676 at the time of writing.
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