When Bitcoin Could Rally to New Highs

Cryptocurrency analyst and trader Jason Pizzino outlines when Bitcoin (BTC) might reach a new all-time high.

In a recent video, Pizzino shared with his 345,000 YouTube subscribers that Bitcoin is likely to stay below the record high of around $108,200 for more than a week, but not exceeding six months.

According to Pizzino, the extended period of consolidation below the all-time high may lead to a stronger upward move:

> “I don’t think we’re in the midst of something like six months underneath that top [of around $108,200]. What we do expect is a longer period of time under the top, not more than six months, but longer than what we have currently seen. And what we have currently seen is 13 days underneath that top.”

The widely followed analyst predicts a potential breakout for Bitcoin in the early weeks of first quarter of 2025:

> “So somewhere around that inauguration [of President-elect Donald Trump on January 20th, 2025]. That might be some of those reasons that people get really excited as to why this thing should go up from that point. You know Trump’s in and then they start to get a little bit excited and the cycle sort of rinses and repeats and we get a nice upside.”

Pizzino believes the first quarter of 2025 will be crucial:
> “If that is the case, that’s going to be a good move or at least a good amount of time underneath this top [of $108,200] especially as we have broken out into a new fresh all-time high… Basically, call it January for some sort of low and then potential breakout to a new fresh high which might come in late January or into February.”

As of now, Bitcoin is trading at $94,528, approximately 13% below the all-time high.

Source: Jason Pizzino/YouTube
Generated Image: Midjourney