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What happened? According to crypto analyst Jason Pizzino, the BTC price could rise by 80% of the current value as soon as it rises above the key resistance zone. He explained that bitcoin may face serious resistance at the level of $28,000 to $32,000, but if it is overcome, the price of the asset will reach $48,000. The expert also believes that if this zone is broken through, the crypto market will become “more bulls and fewer bears.”
What else did the analyst say? According to Pizzino, most crypto users believe that the price of Bitcoin will soon set new cycle lows. He noted that such forecasts will become less and less as the range from $28,000 to $32,000 is overcome. In this case, $48,000 will act as the next level, after which BTC may rise to new all-time highs (ATH).
In addition, the crypto analyst believes that in the future, bitcoin will rise more steadily if its price rises in small, gradual steps, rather than in sharp jumps. “The more BTC moves up in small ladder movements, the better for it, because the price is more stable at lower levels,” Pizzino explained.
On May 25, 16:00 Moscow time, bitcoin is traded on Binance at $26,409, having decreased by 1.07% per day.
In January, Pizzino announced the end of the bear market. In his opinion, the cycle of decline will last another five months, during which it is possible to accumulate bitcoins.
In February, Pizzino said that BTC is ready for growth, specifying that before this the asset expects a short-term decline. Then the analyst called $20,700, $19,800 and $18,600 as the key levels in terms of falling.
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