The leading cryptocurrency, Bitcoin (BTC), has experienced a significant decline recently, with the price falling below $40,000 within the week.
At this point, while analysts stated that the $ 38,000 level remains critical for BTC, successful analyst Ali Martinez drew attention to $ 38,100.
Stating that $38,100 is important for short-term investors, Martinez argued that if Bitcoin falls below $38,130, most short-term BTC holders will be at a loss and this may trigger more sales.
“If the Bitcoin price falls below $38,130, most short-term BTC holders will be at a loss.
While this signals a potential BTC decline, this could trigger a new wave of panic selling as these investors will try to minimize their losses.”
If #Bitcoin's price falls below $38,130, short-term $BTC holders could find themselves in the red. This potential #BTC dip might trigger a new wave of panic selling as these holders will seek to minimize losses. pic.twitter.com/TnAH67DPV6
— Ali (@ali_charts) January 25, 2024
“Bitcoin May Peak in October 2025!”
However, the analyst thinks that this decline will be short because the analyst thinks that Bitcoin will make a new ATH in the bull cycle in late 2025.
At this point 2015-2018; Analyzing past bull rallies between 2018 and 2022, Martinez claimed that if history repeats itself, the next market peak could occur around October 2025.
The analyst also predicted that if Bitcoin follows the past bull run pattern and the time between market bottoms and tops, it will still have 600 days of bullish momentum ahead.
“If Bitcoin reflects past bull runs (2015-2018 and 2018-2022) from its market bottoms, predictions are that the next market top could occur around October 2025.
This means BTC still has 600 days of bullish momentum ahead!”
Additionally, Martinez added that according to historical patterns, all Bitcoin price corrections during the bull run are followed by an uptrend.
If #Bitcoin mirrors past bull runs (2015-2018 & 2018-2022) from their respective market bottoms, projections suggest the next market peak could land around October 2025.
This implies $BTC still has 600 days of bullish momentum ahead! pic.twitter.com/hD3ApOg347
— Ali (@ali_charts) January 24, 2024
*This is not investment advice.
