Crypto analyst Jason Pizzino is predicting that altcoins will see explosive gains within months based on a historic pattern.
In a new strategy session, Pizzino tells his 308,000 YouTube subscribers that the total crypto market cap, excluding Bitcoin (BTC) and Ethereum (ETH), may repeat the last cycle’s pattern and enter a huge uptrend after the halving event.
The next Bitcoin halving event, when miners’ rewards are cut in half, is scheduled for April.
“Roughly 23 months from the cycle low, December 2022, brings us to November 2024.
Guess what? How many things are culminating at the end of the year? We have the election. We have all sorts of stuff going on in terms of timeframes that bring us to that point where we could see some explosive action. So now, the biggest opportunities are presenting themselves. Cryptos, altcoins, Bitcoin – I think there are some great opportunities here…
We are now three months away from the halving, roughly two-and-a-half months. The last time that happened, we also had a turning point when we were about three months away from the halving. So we had the February top – maybe we get a January top this time around – month-and-a-half pullback and then the market started to run into the halving again. So maybe we have that same sort of thing except we don’t have a collapse like Covid…
I suspect we’ll see some sort of correction here. But this one looks like it’s going to be a little more shallow than what we’ve had last time and the time before the Covid drop as well.”
The trader also predicts that Bitcoin will not dip below $30,000 this cycle, but may correct to the mid-$30,000 range.
“For this period where we currently sit, I suspect we won’t see prices under, call it around $30,000, barring any sort of liquidity quick flash crashes to that price…
I suspect somewhere in the mid-$30,000s would probably be the best-case scenario from where we currently are…
Don’t get greedy at this point because this is one of the best opportunities to be scooping up your Bitcoin and your degenerate 50x altcoins coming along the way. We’ve seen this pattern play out the previous cycle.”
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