A well-liked crypto analyst thinks issues may proceed to get “a bit crazier” within the ongoing digital asset bull market.
In a brand new YouTube video, Jason Pizzino tells his 353,000 subscribers there’s a “good psychological stage” for the general crypto market cap on the $4 trillion level.
The crypto market cap (TOTAL) presently sits at $3.646 trillion at time of writing and is down 1.39% previously 24 hours.
Pizzino notes that he’s been taking a look at 150% of the crypto market cap vary within the bull market between late 2022 and the February 2024 excessive, projected off the August 2024 low.
“It’s been working very, very properly all through the market. That is a part of the evaluation that we use to undertaking value targets and assist and resistance ranges as properly. And the following vary we’re taking a look at is the 2022-2024 vary, that fifty% stage, which regularly could be a resistance stage, is available in at $3.8 trillion, so very near the market motion proper now…
Additional up, taking a look at round $5.3 trillion. So now we have $3.8 trillion, $4 trillion is the psychological, $4.7 trillion, then $5 trillion and $5.3 trillion.”
Bitcoin (BTC) is buying and selling at $118,828 at time of writing and set a brand new all-time excessive of $122,838 early Monday morning.
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