Renowned crypto strategist anticipates Bitcoin (BTC) is presently in a consolidation phase, poised for a significant breakthrough before year-end.

In his latest strategic briefing to his extensive YouTube following of 330,000 subscribers, crypto analyst Jason Pizzino explains that historical trends suggest Bitcoin could potentially retreat to $44,000 and still conclude the year on a bullish note.

“As we approach year-end, the current debate over price levels—ranging from around $56,000 down to the pivotal 50% mark of $44,000—may seem trivial in hindsight. Could it dip to $44,000? Frankly, I have no clue if that’s in the cards… What I do anticipate is a market reset, shedding emotional reactions, potentially rebounding swiftly, and ultimately reaching higher valuations by year-end, even factoring in a possible 40% correction. Such movements have certainly occurred before.”

Pizzino forecasts an imminent breakout over the next six months, drawing parallels with historical monthly chart patterns, notably from 2016.

“At the moment, we’ve witnessed a seven-month consolidation phase, followed by an upward surge, and we’re currently navigating our fourth month of likely consolidation. Towards year-end, I foresee a breakout pattern emerging. I’m basing this outlook on historical data, studying its implications for future trends.”

Bitcoin is presently priced at $58,541, showing a decline of over 2% in the past 24 hours.

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