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 <p class="is-style-lead">Crypto markets have faced a turbulent last year, with major cryptocurrencies like Bitcoin and Ethereum dropping significantly from their all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> highs. However, according to YouTube crypto <a rel="noopener noreferrer nofollow" title="analyst" href="https://thebittimes.com/tag/analyst.html">analyst</a> Jason Pizzino, there are signs the markets may be bottoming out and are positioning for a potential recovery in 2023-2024.</p>
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  <div class="wp-block-embed__wrapper"><iframe title="Bitcoin &amp; SP500 Repeating History: NEW ATH Countdown" width="1020" height="574" src="https://www.youtube.com/embed/X1kiUjMoJsA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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 <p>In his latest video <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> published on Oct. 13th, Pizzino points to the S&amp;P 500 stock market index as a precursor to trends in crypto markets. He notes the S&amp;P 500 has formed higher lows in August and October of this year, suggesting a bottoming pattern after the bear market of 2022.</p>
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  <p>This is all part of the preparation for the Bitcoin cycle because as the S&amp;P continues to climb and hit new all<a rel="noopener noreferrer nofollow" title="-time" href="https://thebittimes.com/tag/time.html">-time</a> highs, that leads more investors into more speculative assets like Bitcoin and then altcoins as well.</p> <cite>Jason Pizzino</cite>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> State Street expert: “Bitcoin ETFs approval is inevitable”
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 <p>He believes the next significant low for the S&amp;P 500 will be around 4,300, before heading higher into early 2024 when he expects new all-time highs. Historical data shows markets tend to see positive returns in the 1-2 years following bear market lows.</p>
 <p>For Bitcoin, Pizzino is eyeing the $27,300 level as key for a continued recovery. Failure to regain this level could see a retest of $26,000 or even $24,900. Still he maintains that 2024 is likely to bring a renewed Bitcoin bull market and potentially new all-time highs.</p>
 <p>Pizzino advises investors to look past short-term volatility and bearish sentiment and focus on the longer-term market cycles. He warns the real risk will come after 2026 when he expects a severe multi-year bear market.</p>
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  <p>The collapse is <a rel="noopener noreferrer nofollow" title="coming" href="https://thebittimes.com/tag/coming.html">coming</a>, but if you stall now, you will miss these lows in the market. So looking at the S&amp;P 500 short-term, I’ve seen a slight pullback here. I think this area is going to be the best buying opportunity for the S&amp;P 500 since the banking crisis.</p> <cite>Jason Pizzino</cite>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Analyst suggests The Fed could push Bitcoin to $20,000
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-analyst-claims-new-all-time-high-is-coming-tbt66286.html">https://thebittimes.com/bitcoin-analyst-claims-new-all-time-high-is-coming-tbt66286.html</a></p>

Bitcoin analyst claims new all-time high is coming

TheBitTimes

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