Jason Pizzino told his 284 000 subscribers that bitcoin and the stock market will not be hurt by bad economic news.
According to the analyst, BTC remains afloat – despite the possibility of recession and banking turmoil.
“For almost two months bitcoin has been trading above $25 000..
With all the bad news we’ve seen in the market, there’s nothing to stop BTC from reaching $30 000, $40 000, maybe even $50 000 this year…
Even stock markets are leaving bad news, bad fundamentals, possibility of recession, nasty interest rates, bank crashes aside, setting new annual highs.”
According to Pizzino, those who want crypto-assets at a better price are likely to be left with nothing.
The trader believes that after bitcoin “survived the beginning of the year with a lot of bearish signals,” the BTC price should now be in the $32 000 to $42 000 range.
“If people are expecting lower prices, the market is telling us: it’s not going to happen now.Not even a strong bearish signal, as was the case with $19 500.
Didn’t work collapse Silicon Valley bank, and then Credit Suisse, and even Deutsche Bank. That means the market will go up in the micro and macro perspective.
What could happen? Maybe we’ll exceed $32 000, maybe $34 000, maybe $42 000, we’ll see.”
BTC is trading at $28 910 on Sunday afternoon, May 7.. Nevertheless, over the past week, the rate of the first cryptocurrency still fell slightly.