[Analysis] "Bitcoin Bull Market Nearing End...Possible Correction Until October Next Year"
Summary
- Cryptocurrency trader Jason Pizzino stated that the volatility of Bitcoin is soaring, indicating the end of the bull market.
- Pizzino analyzed that a correction in Bitcoin's price is possible until October next year.
- Pizzino mentioned that the correction period could be from the second to early fourth quarter of next year.
An analysis has emerged suggesting that the rally of cryptocurrencies like Bitcoin (BTC) is nearing its end.
According to Daily Hodl on the 26th (local time), cryptocurrency trader Jason Pizzino recently stated on X that "the volatility of cryptocurrencies like Bitcoin has dramatically increased," indicating that "this suggests we are much closer to the end of the (bull) cycle than the beginning."
Pizzino predicts that Bitcoin's price could undergo a correction by October next year, based on the observation that prices tend to stagnate when the cryptocurrency market overheats and investor confidence grows. Pizzino mentioned, "(The correction period) is expected to be somewhere between the second and early fourth quarter of next year," adding, "Most people will not be able to endure 6 to 10 months of stagnation."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
