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Crypto Potato 2025-01-30 09:38:06

How High Could Bitcoin Go in This Bull Cycle? Analyst Weighs In

TL;DR Analyst Ali Martinez suggests Bitcoin (BTC) has more room for growth during this bull run before a potential cycle shift. Essential factors like reduced MVRV and negative exchange netflows support the thesis of further gains in the near future. The Possible Cycle Top The primary cryptocurrency has been on an evident uptrend in the past several months, charting substantial gains after Donald Trump’s win in the US presidential elections. Recall that Bitcoin (BTC) was trading at less than $70K prior to the voting, whereas a month later, it surpassed the psychological level of $100K for the first time in its existence . Despite the volatility, the solid performance continued, and on January 20 (hours before Trump’s inauguration), the asset tapped a new all-time high of almost $110,000. The next 10 days offered more turbulence before BTC stabilized at its current $105,000 (per CoinGecko’s data). BTC Price, Source: CoinGecko According to numerous industry participants, the valuation has yet to reach unseen peaks during this bull cycle. The popular X user Ali Martinez recently suggested that BTC could soar to as high as $184,000 before entering a bearish mode. He based his prediction on the assumption that cycle shifts typically occur once the price surpasses 2.4x the 200-day Simple Moving Average ( which is set at the depicted mark). Cycle shifts for #Bitcoin $BTC typically happen when it surpasses 2.4x the 200-day SMA. That key level currently stands at $184,600! pic.twitter.com/kbLpJ5AQd4 — Ali (@ali_charts) January 30, 2025 Many factors signal that BTC might indeed flourish in the following months. One of those includes the asset’s historical performance in February. As CryptoPotato reported , 8 of the last 12 Februaries saw BTC jumping by double digits. It is important to note that next month is a post-halving February, and all previous ones have resulted in impressive spikes. Bitcoin’s Market Value to Realized Value (MVRV) and exchange netflow are also worth mentioning. The former metric has been hovering below the healthy level of 2.5 over the last several days, suggesting that the asset might have shifted toward undervalued territory. BTC’s exchange netflow has been predominantly negative in the past week, with outflows surpassing inflows. This could be interpreted as a transition from centralized platforms toward self-custody methods, which reduces the immediate selling pressure. Additional Bullish Predictions Martinez is not the only one envisioning further pumps for BTC in the near future . X user Captain Faibik observed the formation of a “broadening wedge pattern” to set a $120,000 target potentially reached in February. Michael van de Poppe and Jelle were also bullish. The former thinks a new ATH may occur in the coming weeks, while the latter believes $110K is “the final hurdle” before “a new leg of price discovery awaits.” The post How High Could Bitcoin Go in This Bull Cycle? Analyst Weighs In appeared first on CryptoPotato .

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