Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","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 ATH Martinez mentioned in an X post 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 movement was going according to plan.\u00a0 Related Reading: Ethereum Price Completes 12 Weeks Of Bottom Formation, Analyst Says Don\u2019t Aim Lower Than $4,900 ATH 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 closing in October below $70,000.\u00a0 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 their BTC holdings to secure some profits. Ali Martinez indicated 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 In another X post, 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 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 How It Could Play Out After The US Election Economist Alex Kr\u00fcger has provided insights into how the Bitcoin price could move after the US elections. In an X post, he claimed there is a 55% probability that BTC will reach $90,000 by year-end if Donald Trump wins. This is based on the fact that the former US president has declared his support for cryptocurrencies.\u00a0 Related Reading: Crypto Analyst Puts Dogecoin Price As High As $2.4, What Does Elon Musk Have To Do With It? Meanwhile, if Kamala Harris 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 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 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 from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":651013,"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-651010","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
Bitcoin Price To New ATH Soon? Analyst Who Called $72,000 Surge Reveals What Needs To Happen<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n