{"id":653868,"date":"2024-11-20T06:00:08","date_gmt":"2024-11-20T06:00:08","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=653868"},"modified":"2024-11-19T13:07:13","modified_gmt":"2024-11-19T13:07:13","slug":"bitcoin-price-could-surge-138000","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-price-could-surge-138000\/","title":{"rendered":"Here&#8217;s Why The Bitcoin Price Could Surge To $138,000 Before Recording A 30% Crash"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Crypto analyst <\/span><a href=\"https:\/\/bitcoinist.com\/will-dogecoin-repeat-historical-trends\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Ali Martinez<\/span><\/a><span style=\"font-weight: 400\"> has provided insights into what the Bitcoin price trajectory could look like in the coming weeks. Interestingly, the analyst predicted that Bitcoin could rally to $138,000 and then experience a 30% price crash.\u00a0<\/span><\/p>\n<h2>Why Bitcoin Could Rise To $138,000 And Crash After<\/h2>\n<p><span style=\"font-weight: 400\">In an X post, Martinez alluded to <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-btc-historical-data-signals-october-bull-run-kick-off-analyst\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">historical trends<\/span><\/a><span style=\"font-weight: 400\"> to explain why the Bitcoin price could rally first to $138,000 and then crash by 30% after. He stated that during the 2017 bull market, Bitcoin surged 156% past its previous all-time high (ATH) before the first major correction of 39%. Similarly, BTC rallied 124% in the 2020 bull run before it witnessed a 32% correction.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/shenyangcang.com\/analysis\/xrp\/xrp-11-year-supercycle-3-4\/\">Analyst Says XRP\u2019s 11-Year SuperCycle Is Coming To An End, Why A Surge To $3.4 Is Imminent<\/a><\/div>\n<figure id=\"attachment_653875\" aria-describedby=\"caption-attachment-653875\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-653875\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-6.png?w=460&#038;resize=460%2C255\" alt=\"Bitcoin price 1\" width=\"460\" height=\"255\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-6.png?w=512 512w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-1-6.png?w=460 460w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-653875\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">If history were to repeat itself, Martinez predicts that the Bitcoin price could rally to at least $138,000 before experiencing its first major pullback. Bitcoin has cooled off in the last few days following its parabolic rally after Donald Trump won the US presidential elections. However, the analyst recently mentioned what needed to happen for the flagship crypto to break above $100,000 and possibly reach this $138,000 target.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">He stated that the BTC price needs to achieve a sustained <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-must-hold-support-to-retain-100000-dream\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">daily close above $91,900<\/span><\/a><span style=\"font-weight: 400\"> to invalidate its bearish outlook at the moment and rally to $100,680. This came as he explained why Bitcoin could witness a price correction soon enough. Martinez noted that the greed index was currently at its peak, which is usually bearish for the Bitcoin price since investors could be overleveraging their positions, leading to a massive flush.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, in his most recent X post, Ali Martinez indicated that this Bitcoin price rally above $100,000 would happen before the significant price correction. This time, he upped his <\/span><a href=\"https:\/\/shenyangcang.com\/news\/bitcoin\/bitcoin-price-enters-second-breakout-of-the-cycle-analyst-puts-peak-above-150000\/\"><span style=\"font-weight: 400\">target to $150,000<\/span><\/a><span style=\"font-weight: 400\">, stating that the breakout could happen the next day or two before the 30% price correction.\u00a0<\/span><\/p>\n<figure id=\"attachment_653876\" aria-describedby=\"caption-attachment-653876\" style=\"width: 460px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-653876\" src=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-2-5.png?w=460&#038;resize=460%2C329\" alt=\"Bitcoin price 2\" width=\"460\" height=\"329\" srcset=\"https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-2-5.png?w=512 512w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-2-5.png?w=460 460w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-2-5.png?w=120 120w, https:\/\/shenyangcang.com\/wp-content\/uploads\/2024\/11\/Bitcoin-price-2-5.png?w=350 350w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\"><figcaption id=\"caption-attachment-653876\" class=\"wp-caption-text\">Source: X<\/figcaption><\/figure>\n<h2>Price Could Double From Previous ATH In Next Three Weeks<\/h2>\n<p><span style=\"font-weight: 400\">Crypto analyst <\/span><a href=\"https:\/\/bitcoinist.com\/dogecoin-price-rally-not-over\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Kevin Capital<\/span><\/a><span style=\"font-weight: 400\"> predicted that the Bitcoin price could double in the next three weeks. He noted that in every Bitcoin cycle after BTC broke its previous ATH, the crypto went into price discovery and doubled its price in four to six weeks. According to Kevin, BTC is 45% to 50% away from doubling its price from the previous ATH of $73,000 and is on week three of price discovery.\u00a0<\/span><\/p>\n<p>Related Reading: <a href=\"https:\/\/shenyangcang.com\/news\/dogecoin\/dogecoin-large-transactions\/\">Dogecoin Large Transactions Surge 41% With 35% Uptick In Daily Addresses, Will Price Follow?<\/a><\/p>\n<p><span style=\"font-weight: 400\">The analyst stated that if the BTC price doesn\u2019t record this 45% to 50% rally in the next three weeks, it is technically underperforming <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-past-cycles-bull-market\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">previous bull markets<\/span><\/a><span style=\"font-weight: 400\">. However, it is worth mentioning that this cycle is the only one in which the Bitcoin price has reached a new ATH before the halving event, which took place earlier this year.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, the Bitcoin price is trading at around $91,900, up in the last 24 hours, according to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bitcoin\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">data<\/span><\/a><span style=\"font-weight: 400\"> from CoinMarketCap.<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/JeCk8RFi\/\" alt=\"Bitcoin price chart from Tradingview.com \" width=\"3286\" height=\"1518\"><figcaption class=\"wp-caption-text\">BTC price surges again | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto analyst Ali Martinez has provided insights into what the Bitcoin price trajectory could look like in the coming weeks. Interestingly, the analyst predicted that Bitcoin could rally to $138,000 and then experience a 30% price crash.\u00a0 Why Bitcoin Could Rise To $138,000 And Crash After In an X post, Martinez alluded to historical trends to explain why the Bitcoin price could rally first to $138,000 and then crash by 30% after. He stated that during the 2017 bull market, Bitcoin surged 156% past its previous all-time high (ATH) before the first major correction of 39%. Similarly, BTC rallied 124% in the 2020 bull run before it witnessed a 32% correction. Related Reading: Analyst Says XRP\u2019s 11-Year SuperCycle Is Coming To An End, Why A Surge To $3.4 Is Imminent If history were to repeat itself, Martinez predicts that the Bitcoin price could rally to at least $138,000 before experiencing its first major pullback. Bitcoin has cooled off in the last few days following its parabolic rally after Donald Trump won the US presidential elections. However, the analyst recently mentioned what needed to happen for the flagship crypto to break above $100,000 and possibly reach this $138,000 target.\u00a0 He stated that the BTC price needs to achieve a sustained daily close above $91,900 to invalidate its bearish outlook at the moment and rally to $100,680. This came as he explained why Bitcoin could witness a price correction soon enough. Martinez noted that the greed index was currently at its peak, which is usually bearish for the Bitcoin price since investors could be overleveraging their positions, leading to a massive flush.\u00a0 Meanwhile, in his most recent X post, Ali Martinez indicated that this Bitcoin price rally above $100,000 would happen before the significant price correction. This time, he upped his target to $150,000, stating that the breakout could happen the next day or two before the 30% price correction.\u00a0 Price Could Double From Previous ATH In Next Three Weeks Crypto analyst Kevin Capital predicted that the Bitcoin price could double in the next three weeks. He noted that in every Bitcoin cycle after BTC broke its previous ATH, the crypto went into price discovery and doubled its price in four to six weeks. According to Kevin, BTC is 45% to 50% away from doubling its price from the previous ATH of $73,000 and is on week three of price discovery.\u00a0 Related Reading: Dogecoin Large Transactions Surge 41% With 35% Uptick In Daily Addresses, Will Price Follow? The analyst stated that if the BTC price doesn\u2019t record this 45% to 50% rally in the next three weeks, it is technically underperforming previous bull markets. However, it is worth mentioning that this cycle is the only one in which the Bitcoin price has reached a new ATH before the halving event, which took place earlier this year.\u00a0 At the time of writing, the Bitcoin price is trading at around $91,900, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":649560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-653868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n<title>Here&#039;s Why The Bitcoin Price Could Surge To $138,000 Before Recording A 30% Crash<\/title>\n<meta name=\"description\" content=\"Crypto analyst Ali Martinez has provided insights into what the Bitcoin price trajectory could look like 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