Pizzino Dismisses Institutions Collapsing Bitcoin Market: “They Need a Buy-Up Low” – Here’s His BTC Outlook
Prominent crypto analyst Jason Pizzino is calling the recent low of BTC the official bottom of the current Bitcoin market cycle. In a recent video update, Pizzino stated, “I’m claiming that as the market cycle bottoms, and I know that there are a lot of people that still don’t believe that the low is in for Bitcoin.”
The analyst believes those buying at current levels are “Bitcoin OGs” who understand how to identify cycle lows after studying previous markets. Pizzino emphasized that learning from past mistakes is critical, noting, “If you can’t learn from the mistakes, then you’re going to make those mistakes again.” *
Pizzino dismissed concerns about institutions re-entering to collapse the market, stating, “I wouldn’t worry about institutions coming back to collapse the market because they need a buy-up low. It’s absolute garbage. They’re going to be buying high just like everyone else, and that’s how the cycles continue to unfold as they do time and time again.”
For the remainder of 2023, he believes we could see this consolidation last for up to 10 months before a sustained breakout happens.
Looking further ahead, the analyst sees new all-time highs materializing in 2024, with targets around $67,000 coming into play after the next halving event.
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Pizzino advised traders to focus on developing a solid trading plan rather than getting paralyzed by overanalysis, stating, “Analysis can just become analysis paralysis and prevent you from doing anything. Of course, getting a plan is the absolute best thing you can do to make the most of the markets coming up and to gain that financial freedom.”
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