Aussie Analyst Warns Time To Buy Bitcoin May Be Over – Why You Might Not Be Bullish Enough For The Upcoming Boom!

Australian crypto investor and trader Jason Pizzino has put investors on notice – assets in 2024 are about to “go ballistic”. According to the Aussie trader, the macroeconomic environment is set to play a big role in a potential crypto boom, and as more money starts flowing into the stock market and real estate industries, the same may be true for Bitcoin.

Related: Pomp Weighs In On CNBC Anchor’s Claim That Bitcoin Is Fairy Dust, Doesn’t Serve As Inflation Hedge

The “Everything Bubble” – All-Time Highs Across the Board

Despite the challenges from Covid, markets across the world have more than recovered from the global pandemic. Pizzino examined stock indices from major economic nations, such as the United States, Australia, Britain and Japan, revealing each market had hit a new ATH in Q1 2024.

Similarly, based on historic real estate cycles, property is on the precipice of its next major bull run which will have a significant flow-on effect to the crypto market.

Pizzino summarised all of this in one simple line:

We are not bullish enough.

Jason Pizzino

However, in the short-term, Pizzino believes a correction might be on the horizon. Looking at a month-to-month performance chart of Bitcoin, the cryptocurrency has posted 7 positive months in a row. In the coin’s decade-long history, this has only been done once before. Based on the data, it seems like a consolidation period may be coming soon – although this does not mean that over a medium-to-long term, Bitcoin can’t still enjoy a stellar 2024. 

Related: Kraken Australia’s Managing Director Foresees A Turning Point: How Stablecoins And Strategic Policies Could Spark A Crypto Demand Surge

In fact, Pizzino’s price target for Bitcoin – using a historical analysis of the 2021 bull cycle – is approximately USD $81,300 (AUD $125K), where BTC might find resistance for the next little while throughout April.