Crypto analyst Jason Pizzino attracted attention with his predictions about altcoins. Pizzino notes that based on a pattern observed in the past, altcoins could experience a significant increase in value. This prediction, which excites investors, is based on a perspective put forward by Pizzino in the new strategy session.
According to Pizzino’s analysis, the total value of the cryptocurrency market may enter an upward trend led by altcoins other than Bitcoin and Ethereum. The analyst evaluates this situation as a similar course of the cycles that the market has experienced before. He emphasizes that especially projects other than Bitcoin and Ethereum can gain great momentum after the halving event.
At the next Bitcoin halving event planned for April, miners’ rewards will be halved. This often leads to price increases as Bitcoin’s supply decreases. Pizzino thinks this event could also have a positive impact on altcoins. Stating that similar situations have caused altcoins to gain value in the past, the analyst states that the same scenario may be repeated this time.
“About 23 months from the cycle low of December 2022 brings us to November 2024.
NEWS CONTINUES BELOWGuess what? How many things will come to a head at the end of the year? We have a choice before us. We have all kinds of things in terms of timeframes that get us to the point where we could see explosive action. Now the biggest opportunities present themselves. Cryptos, altcoins, Bitcoin – I think there are some great opportunities here…
We are currently three months away from the halving event, roughly two and a half months away. During the last halving, we experienced a turning point about three months before the halving. So we saw the February peak (maybe this time we can see the January peak), it retreated for a month and a half and then the market started to rise again towards the halving. So maybe we have the same thing, except we don’t have a collapse like Covid…
NEWS CONTINUES BELOWI suspect we’ll see some sort of correction here. “But this time it looks like it will be a little more superficial than what we experienced last time and before the covid crash.”
The analyst also predicts that Bitcoin will not fall below $30,000 this cycle but could correct to mid-$30,000.
“In this current period, I don’t think prices will drop to around $30,000, barring any liquidity flash crash in that scenario…
Based on where we are right now I think the best scenario would probably be somewhere in the mid $30,000s… Don’t get greedy at this point because this is one of the best opportunities to collect your Bitcoin and any degenerate 50x altcoins that come your way. “We saw this pattern continue in the previous cycle.”
You can follow the current price movement here.