Bitcoin’s Wild Ride: Will It Hit $184K or Just Crash and Burn? 🚀💸

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TL;DR

  • So, analyst Ali Martinez thinks Bitcoin (BTC) is just getting warmed up in this bull run. Who knew? 🙄
  • With MVRV looking like it just got out of bed and negative exchange netflows, it seems like BTC might just keep climbing. Or not. 🤷‍♀️

The Possible Cycle Top

Bitcoin has been on a bit of a rollercoaster lately, and not the fun kind. After Donald Trump’s win, it decided to throw a party and chart some serious gains. 🎉

Remember when BTC was chilling under $70K before the elections? Fast forward a month, and it’s like, “Surprise! I’m over $100K now!” 🎈 And just when you thought it couldn’t get crazier, it hit a new all-time high of almost $110,000 right before Trump’s inauguration. Talk about a dramatic entrance! The next ten days were like a bad hangover, but it finally settled at a cool $105,000. Thanks, CoinGecko! 🙌

According to the crypto gossip mill, we haven’t even hit the peak yet. Ali Martinez, the so-called “crypto oracle,” thinks BTC could skyrocket to $184,000 before it decides to take a nap. He’s basing this on some fancy math about the 200-day Simple Moving Average. Sounds legit, right? 🤔

Cycle shifts for #Bitcoin $BTC typically happen when it surpasses 2.4x the 200-day SMA. That key level currently stands at $184,600!

— Ali (@ali_charts) January 30, 2025

Now, let’s talk about February. Historically, it’s been a good month for BTC, like that friend who always brings snacks to the party. 🍕 CryptoPotato says 8 out of the last 12 Februaries saw BTC jumping by double digits. And guess what? Next month is a post-halving February, which usually means impressive spikes. Fingers crossed! 🤞

Also, Bitcoin’s Market Value to Realized Value (MVRV) is hanging out below 2.5, which is like saying it’s on sale. And the exchange netflow? It’s been negative, meaning more people are taking their BTC home instead of leaving it at the party. Less selling pressure? Yes, please! 🙌

Additional Bullish Predictions

But wait, there’s more! Martinez isn’t the only one dreaming of Bitcoin’s glory days. Captain Faibik thinks we might see a “broadening wedge pattern” that could lead to a $120,000 target in February. Sounds like a fancy way to say “I hope it goes up!” 😅

And then there’s Michael van de Poppe and Jelle, who are also riding the bullish train. One thinks a new ATH is just around the corner, while the other believes $110K is “the final hurdle” before we all start throwing confetti. 🎊

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2025-01-30 12:40