Crypto analyst Ali Martinez suggests that Bitcoin's price could potentially rise to $138,000 before experiencing a 30% crash. This prediction is based on historical trends, where Bitcoin previously saw significant surges followed by corrections during the 2017 and 2020 bull markets.
Martinez indicates that for Bitcoin to reach the $138,000 target, the price needs to sustain a daily close above $91,900, which could negate its current bearish outlook. A close above this level could lead to a rally past $100,000, eventually reaching the predicted price point.
Additionally, the greed index is currently high, indicating potential investor overleveraging, which could result in a significant price correction. Martinez proposes that the rally above $100,000 will precede the anticipated 30% drop, with the potential of the price hitting as high as $150,000 soon.
Another analyst, Kevin Capital, forecasts that Bitcoin could double in value over the next three weeks. Historically, Bitcoin has tended to double its price within four to six weeks after breaking its previous all-time high. According to Kevin, Bitcoin remains on this trajectory and is expected to follow historical patterns unless it fails to record the necessary 45% to 50% rally within this timeframe.
