Bitcoin: Unshakable enough to no longer collapse?

In April, the price of Bitcoin reached the $30,000 mark. A level it had not reached in several months. The price of Bitcoin (BTC) subsequently dropped from this level. This episode seems to have demonstrated the relevance of the asset. For some, it has now become a rock that nothing can shake.

No negative circumstances can affect Bitcoin anymore

Despite being in the doldrums during the banking crisis, Bitcoin (BTC) continues to reinforce the optimism of its defenders. Many of them believe, firmly, in the strength of the queen of crypto.

For example, someone like crypto trader Jason Pizzino thinks that the flagship crypto has a bright future ahead of it. According to him, the asset has gained such robustness over the recent market conditions that nothing can affect it anymore.

For the analyst, this perspective is obvious. When an asset reaches a point where it defies market gravity and establishes itself, what can happen to it? Certainly not harmful things like its price melting!

Bad News Can’t Stop Bitcoin (BTC) Now, Says Popular Analyst – Here’s His Outlook https://t.co/8kixpQwCxh

— The Daily Hodl (@TheDailyHodl) May 7, 2023

In the case of Bitcoin, a crash is therefore not on the agenda according to Pizzino. He argues that the flagship crypto can only experience a bullish trend, even if it is currently in a status quo.

This is because Bitcoin has demonstrated consistency by trading above $25,000 in recent weeks. “For nearly two months, Bitcoin has been trading over $25,000. With all the bad news that we have seen in the markets, nothing is swaying Bitcoin from hitting $30,000, $40,000, maybe even $50,000 this year…” Pizzino said.

Bad news for opportunistic Bitcoin investors?

According to the crypto trader, those who hope for a new collapse in prices to buy Bitcoin would be surprised. This is because of the failure of previous predictions of a crypto price drop.

“When that bearish signal fails, and it breaks above that, meaning that it failed, it’s most likely a signal to the upside, and a macro signal to the upside,” says Jason Pizzino.

So, what can we expect? Will new heights be reached in the coming weeks? Anything can happen in this extremely volatile market. For now, however, BTC is worth just over $29,000. It has increased by 1.14% in the last 24 hours.