A renowned cryptocurrency analyst recently shared when the largest cryptocurrency, Bitcoin (BTC), will reach its next market top. In an analysis shared on April 30, Ali Martinez analyzed Bitcoin’s latest price movements.
Sharing a cryptocurrency chart, the expert noted that if BTC manages to perform similar to the previous two bull cycles, the next one could happen in 538 days. According to the analyst’s forecast, Bitcoin’s next market top will occur in October 2025.
“If Bitcoin follows the trends of the previous two bull cycles, we could be just 538 days away from seeing $BTC reach its next market top!”, the analyst wrote.
If #Bitcoin follows its trends from the previous two bullish cycles, we might be just 538 days away from seeing $BTC hit its next market top! pic.twitter.com/oaJbsjpZhU
— Ali (@ali_charts) April 30, 2024
At the time of publication, the price of Bitcoin was quoted at US$57,559.32, down 6.1% in the last 24 hours.
Analyst shares resistance level for Bitcoin to advance towards new all-time high
A renowned cryptocurrency analyst recently shared a resistance level for Bitcoin (BTC) to move towards a new all-time high in its price. In an analysis shared on April 29, Ali Martinez analyzed the latest movements of the largest cryptocurrency.
According to the analyst, by rising above US$66,250, Bitcoin will gain strength to advance towards US$69,150. “And if this resistance barrier is breached, $BTC could move towards a new all-time high of $92,190.” The highest price paid for Bitcoin (BTC) was $73,737.94, recorded on March 14.
According to the analyst, peaks in Bitcoin’s realized profits have historically coincided with market peaks. “Last month, when BTC reached $73,880, realized profits soared to $3.52 billion. This could signal a potential BTC market top!”
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/especialista-compartilha-quando-bitcoin-atingira-proximo-topo-de-mercado/
