[Analysis] "Bitcoin may face correction before reaching new all-time high if following previous patterns"
Suehyeon Lee
Summary
- Analyst Ali Martinez suggested that Bitcoin may face an imminent correction before reaching a new all-time high if it follows previous cycle patterns.
- Bitcoin has recently experienced a downward trend, with its price temporarily falling below $80,000, according to the report.
- Currently, Bitcoin is trading at $84,309.97 on CoinMarketCap, up 0.35% compared to the previous day.
An analysis suggests that Bitcoin (BTC) may be on the verge of a correction before reaching a new all-time high.
On the 1st (local time), cryptocurrency analyst Ali Martinez stated through X that "if Bitcoin follows the pattern from the 2018-2022 cycle, there is a possibility that a correction is imminent before reaching the market peak, which would be a new all-time high."
Meanwhile, Bitcoin has been experiencing a downward trend recently, even falling below the $80,000 mark at one point yesterday. Currently, it is trading at $84,309.97 on CoinMarketCap, up 0.35% compared to the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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