Cryptocurrency expert Jason Pizzino is sounding the alarm on Bitcoin’s potential decline should it breach a pivotal support mark. In his latest update, Pizzino informs his 330,000 followers on YouTube that Bitcoin’s stability is hinging on the $44,600 support level. A fall below this threshold could trigger a significant downturn, potentially revisiting lows from early 2023.

Pizzino cautions, “Dipping below $44,600 could spell trouble, almost like a hex, ushering in sub-$40,000 values. A descent under $40,000, especially with monthly closures beneath this figure, signifies a broken trend—essentially, the end of the game. Should it plummet to $40,000 and fail to maintain, it’s not certain, but the likelihood of this cycle concluding escalates. We could then see it tumble further, possibly probing the $30,000 and even $20,000 ranges.”

Credit: Jason Pizzino/YouTube

Nevertheless, Pizzino remains optimistic about Bitcoin’s prospects, suggesting a rebound is possible if it sustains above the bull market’s support band. He presents a chart indicating a potential surge past $60,000 by November this year.

Pizzino shares, “Hovering in the low to mid-$50,000 zone, Bitcoin is still perched above my bull market support benchmark of approximately $49,243. This positioning gives it room to ascend further, albeit at a slower pace than initially expected.”

Credit: Jason Pizzino/YouTube

At the moment of reporting, Bitcoin’s value stands at $56,306.

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Disclaimer: Views expressed on The Daily Hodl do not constitute investment advice. Before engaging in high-risk Bitcoin, cryptocurrency, or digital asset investments, investors are advised to conduct thorough research. Be aware that all trading and transfer activities are conducted at your own peril, and any resulting losses are solely your accountability. The Daily Hodl neither endorses the purchase nor the sale of any cryptocurrencies or digital assets, nor does it serve as an investment consultant. The Daily Hodl is involved in affiliate marketing programs.

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