Is Bitcoin (BTC) at the bottom? Crypto Analyst Jason Pizzino Says Previous Bear Markets Hold The Index

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Jason Pizzino, a popular crypto trader, said Bitcoin’s (BTC) previous boom and bust cycles may hold clues to when the king of crypto might finally bottom out in the bear market.

In a new video update, Pizzino tells his 279,000 YouTube subscribers that Bitcoin’s current bear market aligns with its two previous downtrends in terms of time.

Because the day counts, we are still very close to what we have seen in the previous cycles… The first cycle here, 2014, we have 411 days. You see it top to bottom, 411 days, top to bottom…

The next cycle was in 2018, 363 days, basically almost exactly one year, top to bottom, 363 days.

And at the moment, the current low being mid-November, 376 days, the peak being around early November. This could therefore still lead to January, perhaps also for another bottom. And that would still be well within the timeline of all previous cycles, which means it aligns very, very well with previous cycles, and of course the upcoming halving event in 2024.

Source: Jason Pizzino/YouTube

Pizzino also says traders should be on the lookout for strong Bitcoin rallies, even amid negative market sentiment. According to the trader, huge bulls marked the end of the bear markets of 2014 and 2018.

Over the past two bear market cycles for BTC, swings have called the end of the bear market. Once these swings turn to the upside, the bear market is over. However, the news will always be very, very negative, so don’t let that put you off.

At the time of writing, Bitcoin is changing hands for $16,857.

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