As the cryptocurrency market attracts the attention of more and more investors, the analyzes of strategists specialized in this field are also gaining great importance. Recently, crypto strategist Jason Pizzino gained attention by offering a perspective that Bitcoin’s current upside potential has been underestimated.
In particular, Pizzino notes that some investors believe Bitcoin’s long-term rally is over and are associating the end of this cycle with possible approvals of Bitcoin exchange-traded funds (ETFs). However, the analyst claims that this view may be lacking in understanding the true value of Bitcoin.
Even if the approval of BTC ETFs leads to a correction in crypto markets, Pizzino emphasizes that this will not mean that Bitcoin’s long-term uptrend is over. According to the analyst, approval of ETFs could lead to greater adoption in the long run.
Pizzino recommends that investors understand Bitcoin’s fundamental value and consider its long-term potential, rather than just focusing on short-term fluctuations. suggests. According to him, the evolution of cryptocurrencies is still continuing and developments in this process can offer long-term profit opportunities to investors.
“Many may be greatly exaggerating the market impact of the Bitcoin ETF in the short term with price calls at $200,000 and above.
However, they may be underestimating the potential long-term price increase for the current cycle. So, even if the Bitcoin ETF is a “buy the rumor, sell the news” event, there is no reason to believe this cycle is over. “It’s just getting started.”
NEWS CONTINUES BELOW
Pizzino also says that the Bitcoin price is still in an upward trend without any immediate signs of reversal. In the short term, Gann thinks BTC could still rise above $50,000, citing support and resistance levels.
“Many altcoins continue to lose value against BTC since the December highs, but overall they have performed very well since the September/October lows.
How much more excitement can these crypto markets take right now? My highest expectation was ~$52,000 and my lowest expectation was ~$45,000. The low has been reached and it is very close to $48,000. Am I still waiting for a fix? Yes, but I’m not fighting the trend in the short term. Medium/long-term analyzes will be reviewed in due course.”
You can follow the current price movement here.