Analyst Jason Pizzino points out factors that could help Bitcoin reach 180k.

Cryptocurrency analyst and trader Jason Pizzino believes that Bitcoin (BTC) has the potential to increase by about 55% from its current level.

"...According to my theory, we need to see this rate drop to 3.7% in order to witness a real altcoin season and Bitcoin could rise above $150,000 to $180,000.

I believe that while the dominance rate of USDT remains between 3.7% and about 4.8%, it will be difficult for extreme numbers to appear.

As of the time of writing, the dominance rate of USDT is at 4.35%.

Source: Jason Pizzino/YouTubeAccording to Pizzino, Bitcoin has the potential to maintain growth prospects if it holds above $110,000.

"I do not wish to see the market consolidate below $106,000. I think that would indicate weakness in the long term. In the worst-case scenario, the level of $99,000 below $106,000 would become a slow-moving target for the next rally. For optimistic investors, ideally Bitcoin needs to hold above $110,000, or even $111,000."

Therefore, if August continues to perform weakly, I will consider each price level as an indicator to assess the strength of the next move. The price range from $111,000 to $110,000 is considered strong. Below that level, it will be average, and below that again, it will be weak. Below around $99,000... I don't want to go there at this time.

Source: Jason Pizzino/YouTubeBitcoin is trading at $116,300 at the time of writing.

Mr. Teacher