Crypto Market News: When Will Bitcoin Price Hit ATH? 2023 or 2024?

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Having been born out of a market recession back in 2009, the Bitcoin market has always had a correlation with the stock market in the past decade. Basically, the Bitcoin market is in a bull session when the S&P 500 is under a bearish outlook and vice versa. As a result, popular cryptocurrency analyst Jason Pizzino expects Bitcoin to experience significant difficulty rallying beyond $31k and the S&P 500 continues to enjoy a bullish outlook. 

From a technical standpoint, the analyst argued that Bitcoin is about a year away from revisiting its ATH of around $69k. Meanwhile, Pizzino argued that the Bitcoin market will continue to consolidate below $50k. However, the analyst noted that the Bitcoin market has little chance of falling back below $20k fueled by increased demand from both retail and institutional investors.

Bitcoin Market Outlook 

The Bitcoin market has faced a short-term resistance level of around $31k following an increased bullish outlook from the altcoin industry in the recent past, fueled by the SEC vs Ripple case. Unless the Bitcoin bulls take over from current levels, experts believe the asset is headed to the support level of around $28k. Notably, Bitcoin dominance had dropped below 50 percent on Wednesday despite the top coin steadily holding above $30k in the past 24 hours.