Categories: MarketsMenafn

Bitcoin Far From Bottom: Analyst Warns

Jason Pizzino, a renowned crypto analyst, cautions that the worst may not yet be over for Bitcoin (BTC). 

The analyst suggests that the bottom has not been reached, predicting more challenges for late market entrants, such as market cycles, the impact of halted interest rate hikes, and the significance of long-term trends over short-term emotions.

Looking ahead, Razon sees a possibility of a prolonged consolidation period before leading to higher future prices and unpredictable market tops. The analysts suggest that significant price movements could occur anywhere from late 2024 to the end of 2025.

Jason’s prediction aligns with Markus Thielen’s recent remarks on BTC. The 10X Research’s CEO issued a warning on March 20 to traders and buyers looking to “buy the dip” after the crypto market as a whole crashed. Markus had previously called Bitcoin’s drop to $38,000 after the spot Bitcoin ETF was approved. Jason and Markus add to the long list of analysts who speculate on a further Bitcoin dip. 

Bitcoin’s Future Outlook

The Bitcoin price is now recovering, as shown by the latest series of green candle sticks. With the BTC price movement now on a northern trajectory, should it bounce above the support, it could indicate a bullish short-term outlook for Bitcoin.

Looking at indicators, the Awesome Oscillator (AO) is currently red and below the zero line, which typically indicates bearish momentum. However, the histogram bars appear to be getting shorter, which could suggest that the bearish momentum is losing strength. On the other hand, the Money Flow Index (MFI) is around 58.24, suggesting a moderate market. However, its northern trajectory indicates some mounting buying pressure.

2-hour BTC/USD Chart | Source: TradingView

The recent candles show a slight recovery from the support line, indicating buyers are trying to increase the BTC price. However, a breakdown below the support line could confirm a bearish breakout, potentially leading to a new downtrend outside the channel, pushing Bitcoin prices even lower. In line with this, while Jason smells more blood, other analysts see this as a buying opportunity.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Recent Posts

Ajman Bank Successfully Prices USD 500 million Inaugural 5 Year Sukuk

Ajman, UAE, 25th April 2025, Ajman Bank P.J.S.C. (“Ajman Bank” or “the Bank”), the first Islamic…

4 hours ago

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment system

The Rise of Autonomous Finance: How 9M is turning AI into a fully operational investment…

4 hours ago

Echo Launches Real Unique Tokenomics with Real Yield in USDC

Douglas, Isle of Man, 25th April 2025, ZEX PR WIRE, Echo is about to launch…

6 hours ago

World of Dypians Wins $450K in BNB Chain’s Support Program and Announces Monumental New Features

Tortola, BVI, 25th April 2025, ZEX PR WIRE, World of Dypians (WoD), a highly immersive…

6 hours ago

Hyperliquid Price Analysis: HYPER Eyes $20 as Price Tests Critical Resistance

Hyperliquid (HYPE) has staged an impressive climb, doubling in price since its low of $9.30 on…

7 hours ago

Sui Price Surges 10% as the Network Launches Virtual Mastercard Integration In Europe

Sui is expanding its reach into everyday utility by integrating with crypto fintech platforms xPortal…

19 hours ago