A crypto analyst has updated their prediction: Bitcoin could soon make an all new all time high. Earlier on September 23, Ali Martinez made a X (previously Twitter) prediction of a bearish move for the leading cryptocurrency, but with some volatility.
Bitcoin’s price could first fall to $60,000, rise to $66,000, then plunge down to $57,000 as it surges to a record $78,000 that’s unlikely to be broken, Martinez outlined. The basis for this projection is a pattern of lower highs and lows on Bitcoin’s daily chart, a technical formation ubiquitous to past bull markets that can serve to project a breakout after a level of lower highs and lows.
Bitcoin Confirms Key Levels
After confirming Bitcoin had already made it past $60,000 and come back up to $66,000 in a followup post, Martinez said bull run could see Btc hit $80,000 and $95,000. The cryptocurrency would then correct for a while to about $59,000 before rallying breakneck towards $78,000.
As historically a bullish month for BTC, October hasn’t had much upward momentum so far, but Martinez believes ‘Uptober’ could just be kicking off. At present, BTC is trading around $63,000, and is up 5 percent in the last 24 hours. Considering its recent bearish pressure pushing the price as low as $59,000, Data from CoinGecko shows a 1 percent increase over the past week.
