{"id":17163,"date":"2024-11-01T11:00:32","date_gmt":"2024-11-01T11:00:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17163"},"modified":"2024-11-01T11:00:32","modified_gmt":"2024-11-01T11:00:32","slug":"bitcoin-price-to-new-ath-soon-analyst-who-called-72000-surge-reveals-what-needs-to-happen","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17163","title":{"rendered":"Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen"},"content":{"rendered":"

Crypto analyst Ali Martinez has revealed what needs to happen next for the Bitcoin price<\/a> to surpass its current all-time high (ATH) of $73,700. The analyst had rightly predicted the recent price rally to $72,000 but warned back then that the flagship crypto won\u2019t hit its ATH instantly.\u00a0<\/p>\n

How The Bitcoin Price Can Reach New ATH<\/h2>\n

Martinez mentioned in an X post<\/a> that the Bitcoin price needs to hold above the $69,000 support level to reach a new ATH. He claimed that a successful hold above that support level could lead to a price rally to $78,000. This came as he noted that the Bitcoin price<\/a> movement was going according to plan.\u00a0<\/p>\n

Before now, Martinez had predicted that the Bitcoin price would rise to $72,000 if it held above $65,000, which eventually happened. Back then, he added that BTC would likely experience a pullback to $69,000 after this price, which has also now happened, with the flagship crypto<\/a> closing in October below $70,000.\u00a0<\/p>\n

This price correction is believed to be healthy, considering the pump that BTC enjoyed earlier in the week, coming close to its current ATH. This pump was followed by a wave of profit-taking, with whales, including Bhutan, selling<\/a> their BTC holdings to secure some profits. Ali Martinez indicated<\/a> that the flagship crypto is still in bullish territory, as he alluded to BTC\u2019s historical performance in November, a month in which it has recorded more positive returns than negative ones.\u00a0<\/p>\n

In another X post<\/a>, he suggested that the Bitcoin price could go parabolic after the US elections. He shared a chart of BTC\u2019s movement after the last three US presidential elections<\/a> and remarked that he doesn\u2019t expect this time to be different. Bitcoin hit a new ATH after those elections, which could happen again.\u00a0<\/p>\n

How It Could Play Out After The US Election<\/h2>\n

Economist Alex Kr\u00fcger has provided insights into how the Bitcoin price could move after the US elections. In an X post<\/a>, he claimed there is a 55% probability that BTC will reach $90,000 by year-end if Donald Trump<\/a> wins. This is based on the fact that the former US president has declared his support for cryptocurrencies.\u00a0<\/p>\n

Meanwhile, if Kamala Harris<\/a> wins, Kr\u00fcger mentioned that there is a 45% probability that the Bitcoin price will be trading at $65,000 by year-end. The economist put the weighted average for BTC\u2019s price at $79,000.\u00a0<\/p>\n

He also told market participants to expect a swift Bitcoin price rally if Trump wins. At the same time, he said he expects BTC to range between $65,000 and $68,000 going into the election night.\u00a0<\/p>\n

At the time of writing, the Bitcoin price is trading at around $69,400, down over 3% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Crypto analyst Ali Martinez has revealed what needs to happen next for the Bitcoin price to surpass its current all-time high (ATH) of $73,700. The analyst had rightly predicted the recent price rally to $72,000 but warned back then that the flagship crypto won\u2019t hit its ATH instantly.\u00a0 How The Bitcoin Price Can Reach New […]<\/p>\n","protected":false},"author":0,"featured_media":17164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17163","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17163"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17163"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17163\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17164"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}