Analyst: Real Estate Peaked, Bitcoin and S&P 500 Still Have Upside

According to widely followed analyst Jason Pizzino, despite the economy nearing the late stage of an 18-year real estate cycle, Bitcoin and U.S. stocks may still have room to rise.

Why Bitcoin and Stocks Haven't Crashed Yet

Pizzino's framework is based on roughly 18-year U.S. real estate and economic cycles, and historically, risk assets do not peak in tandem with the real estate market.

In an August 27 podcast, Pizzino noted that during the early real estate cycle peaks around 1972, 1989, and 2006, stocks continued to rise in each case before eventually turning lower.

U.S. real estate peaked around 2006, while stocks did not reach their major high until roughly 12 to 18 months later.

Pizzino believes that sustained strength in stocks is a key reason why Bitcoin has not yet entered another major downturn.

Although a Bitcoin rebound does not rule out a subsequent decline, he sees little evidence of a major crash at present and said that if U.S. stocks remain structurally strong, BTC could continue to recover.

Bitcoin Could Retest $120,000 or Higher

Pizzino said Bitcoin has already produced an "explosive move" off a key support level but has not yet broken through a significant volatility high.

He noted that roughly $83,000 is the immediate level Bitcoin still needs to break, followed by its prior peak near $120,000.

Pizzino outlined a potential path toward $120,000 to $140,000, though he stressed these levels are indicative rather than definitive price targets.

The more important point is that Bitcoin does not need to crash simply because the real estate cycle appears to be nearing its peak.

"I think stocks still have further room to run," Pizzino said.