Opportunity to Accumulate Bitcoin About to End?
Analyst Jason Pizzino says we may have only five more months left of these buying opportunities for Bitcoin. It feels like we’ve been stuck down here for a long, long time and I’m personally ready for a big move upward
Opportunity To Accumulate Bitcoin (BTC) About To End, Says Crypto Analyst Jason Pizzino – Here’s the Timeline
“’We may only have five months left of Bitcoin being underneath this [MVRV accumulation] zone which in the past has called for some pretty good buy opportunities before the market starts to accumulate at higher prices, like it did in 2015 and again in 2019 and 2020 and then go on to those next bull markets.’
MVRV values of below one suggest severe market capitulation and that accumulation is underway. Bitcoin’s MVRV ratio is currently below 0.85 at time of writing.
On whether Bitcoin is likely to fall below the 2022 low of about $15,600, the crypto analyst and trader says,
‘It can be easy for many investors to be left behind because they’re expecting lower and lower prices. But a lot of the data is showing that if we haven’t hit that exact price bottom on Bitcoin, we’re probably somewhere around it.’
According to Pizzino, Bitcoin could bottom out between the $13,000 to $14,000 price if resistance at the $18,500 level is strong.”