Citing historical data, prominent Bitcoin and crypto analyst Ali Martinez predicts that there are more than 20 months of bullish price action still ahead for BTC.
The price of Bitcoin has struggled in the days following the approval of spot Bitcoin ETFs in the United States. The leading cryptocurrency shed more than 20% of its value from the recent highs, dropping to as low as $38,500 earlier this week.
However, this bearish price action could be short-lived, according to Ali Martinez. In a recent update, the prominent analyst pointed to historical charts as evidence that Bitcoin’s best days are yet ahead.
The analysis made comparisons between Bitcoin’s current price and its performance in the previous four-year cycles.
It forecasts that if Bitcoin follows the pattern set in the past bull run and the duration between market bottoms, then there are still 600 days of bullish momentum ahead.
Notably, Bitcoin saw market bottoms between 2015 and 2018 at $185 and $3,200 respectively. Similarly, the market set hit its lowest point in four years in 2022, when Bitcoin traded close to $16,000 off the back of the FTX collapse.
By considering the average period that elapsed between the markets, setting a new lowest point, Ali Charts notes that Bitcoin’s next market peak should come in October 2025 (or more than 20 months from now). At that point, the market will witness a sell-off that sets it on course for a new bottom.
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Bitcoin (BTC) Attempts Rapid Recovery
Bitcoin’s price action over the past 48 hours tends to support the thesis that its best months are yet ahead. Since hitting a new monthly low of around $38,500, the leading cryptocurrency has bounced back, reclaiming the $40,000 mark several times within the period under consideration.
At the time of writing, Bitcoin is trading at $39,962, representing a less than 0.1% decline in the past 24 hours. Bullish investors remain hopeful that BTC will continue its fightback and recover lost ground in the days ahead.