Analyst Jason Pizzino Claims #Bitcoin 's Current Bull Run is Unsustainable

Renowned analyst Jason Pizzino, closely monitored by crypto markets, asserts that Bitcoin's (#BTC ) current upward trend is unsustainable, citing a decline in its popularity according to Google search data. The dwindling interest in Bitcoin searches on Google indicates a saturation point in price and signals an inability for the current uptrend to persist.

Decline in Bitcoin Interest on Google Searches

Pizzino suggests that the decrease in Google searches for Bitcoin reflects a waning interest in the cryptocurrency. By analyzing Google data, he underscores the correlation between Bitcoin's price movements and search queries. This downward trend might serve as an indicator of Bitcoin reaching past price peaks, with previous spikes in search volume being associated with significant events like #ETF launches.

#Bitcoin Faces a Formidable $49,000 Barrier

The analyst highlights the necessity for an increase in trading volume for Bitcoin to surpass the $49,000 resistance level. He emphasizes that sustaining above this level would require significant volume within the next few weeks. While Pizzino refrains from making a definitive prediction, he hints at an imminent breakthrough if bullish scenarios materialize.

At the time of writing, Bitcoin was trading at $48,086, marking a crucial period where volume accumulation is pivotal for an upward movement.

Disclaimer: This article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and conduct their own research before making any investment decisions.