Cryptocurrency analyst and trader Jason Pizzino believes Bitcoin ( BTC ) could go up by around 55% from the current level. In a new strategy session, Pizzino tells his 355,000 YouTube subscribers that the ratio of USDT stablecoin relative to other crypto assets (USDT dominance) has to fall below a major support level in order for Bitcoin to rally to new all-time highs. “…My theory is we need to get a breakdown of 3.7% to see any sort of real altcoin season and really seeing Bitcoin pump potentially past that $150,000 to $180,000 range. I think while it [USDT dominance] remains in this area between 3.7% and call it 4.8%, you’re probably not going to see those extreme numbers.” Source: Jason Pizzino/YouTube USDT dominance is at 4.35% at time of writing. According to Pizzino, Bitcoin is likely to maintain its bullish prospects if it manages to stay above a price of $110,000. “I wouldn’t want to see this market consolidate under the $106,000. I think that’s going to look really, really weak long term…. So, worst-case scenario, $99,000 underneath $106,000 is going to be a slow-moving target for the next climb higher. And for the bulls, ideally above $110,000, $111000… So if August is going to continue being weak, then I’m looking at each of those price targets as a way to measure the strength of the next move. $111,000 to $110,000 – strong. Underneath that, average. Underneath that, weak. Underneath about $99,000… I don’t want to go there yet.” Source: Jason Pizzino/YouTube Bitcoin is trading at $116,300 at time of writing. ? Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bitcoin Could Explode to $180,000, According to Crypto Analyst Jason Pizzino – Here’s What Needs To Happen appeared first on The Daily Hodl .
