If we take the popular analyst Jason Pizzino can be believed, then after Bitcoin it is time for altcoins. The analyst tells his more than 300,000 subscribers on YouTube that the total market cap of crypto minus Bitcoin and Ethereum may repeat the pattern of the last cycle.
That would mean that after the halving we can start a huge upward trend with altcoins.
When is the halving?
The halving is currently scheduled for April and that is when the reward for miners for producing a block will halve from 6.25 to 3.125 Bitcoin per block.
“How many things come together at the end of the year? We have the elections (America). We have all kinds of developments on different timeframes that are bringing us to the point where we could see explosive price action.
This is when the greatest opportunities arise. Altcoins, Bitcoin, I think there are a lot of great opportunities here,” said Jason Pizzino.
The analyst’s focus is now on the next Bitcoin halving, which has been a turning point for the market in previous cycles. Will that happen again this time? That is the question to which we as investors must come up with our own answer.
Correction imminent for the market?
Jason Pizzino says he doesn’t expect a collapse like we saw during the COVID-19 pandemic.
“I expect we will see some kind of correction here. But this one seems to be a bit less intense than the last one we experienced before the start of the COVID-19 misery,” says the analyst.
The analyst does not expect the Bitcoin price to fall below $30,000 in any case; but perhaps a correction to around $35,000.
“For this period, I don’t expect prices below $30,000 for Bitcoin, unless we have some kind of flash crash due to a lack of liquidity,” the analyst said.
2024-01-30 11:17:15
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