Unbridled Insights on Bitcoin's Potential Skyrocket
Bitcoin analyst Jason Pizzino predicts peak bull run price for Bitcoin, suggesting that returns are becoming "quite finite".
In an exclusive scoop, popular cryptocurrency analyst, Jason Pizzino, has shared his predictions for Bitcoin's (BTC) price this cycle. As the flagship digital asset edges closer to its bull market's end, Pizzino revealed that we might witness a new record-breaking high!
In a recent video update, Pizzino briefed his 350,000 YouTube subscribers about the potential price target, emphasizing that the returns on BTC are gradually decreasing as its price climbs higher.
Pizzino reminds us that since hitting a significant low in November 2022, BTC has experienced two powerful rallies, and should we observe a third one, Bitcoin could reach a breathtaking new peak!
"The returns on the top crypto asset by market cap are becoming slimmer as its price continues to soar. In this cycle, we've yet to see the massive pump moves seen in the past. However, these two $60,000 moves indicate that we could print a new record high if a third one appears. From the current low, a $60,000 gain would take us around $130,000 to $160,000."
However, Pizzino points out that the risks are getting progressively higher compared to the early stages of the cycle.
"If you've been invested since the early cycles, maybe even from the earlier cycles, you're potentially up thousands of percent. If you got in in 2023, maybe you're up a few hundred percent. But the game is becoming quite finite as Bitcoins growth becomes more significant. The returns are obviously getting slimmer on the way up even with those $60,000 moves, and it takes a lot more money going into it to reach those prices."
Currently, Bitcoin is trading at an eye-watering $84,679, representing a marginal decrease over the past 24 hours.
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Note: This piece does not constitute investment advice. Investors should carry out their own research before making any investment decisions. The opinions expressed here do not reflect the views of other Daily Hodl staff members.
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- Following Jason Pizzino's insight, if Bitcoin sees a third rally like its past ones, it might surpass its previous record high, potentially reaching prices between $130,000 to $160,000, since it's currently trading at $84,679.
- In the cryptocurrency market, stories like STEPN partnering with the Argentina Football Association and Solstice Labs announcing the upcoming USX launch on Solana are another indication of the industry's growth, beyond just Bitcoin.
- Crypto enthusiasts interested in staying updated on new developments, including announcements, trends, and insights, can do so by subscribing to daily newsletters or following dailyhodl on Twitter, Facebook, and Telegram.
- Investors must remember that the risks in cryptocurrency investing are getting progressively higher, as thicker returns on investments like Bitcoin become harder to come by, and they should always do thorough due diligence before making any high-risk investments.
- While Dalle3 may not be explicitly mentioned in our piece, it's crucial to note that the cryptocurrency industry also involves various altcoins like Ethereum, and monitoring their growth and developments is essential for understanding the broader digital currency landscape.
