A top analyst shared his prediction for Bitcoin and the altcoin market
Renowned analyst Ali Martinez recently shared his views on Bitcoin and the broader crypto market.
Martinez emphasized , that the ratio of the simple moving average in the ratio ETH / BTC has crossed 365, which he interprets as an early indicator of the approaching altcoin season.
However, the analyst emphasized that the price of the leading cryptocurrency often rises when least expected.
Continuing his analysis of Bitcoin, Martinez revealed , that in the past four days, 14,000 BTC have been transferred on crypto exchanges, which equates to approximately $851 million.
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A serious boom in the price of Bitcoin will not happen, according to a billionaireThe expert noted , that despite these large transfers, Bitcoin Kit made significant purchases when the price was in its low ranges, causing the BTC bid/ask ratio to rise.
Also, Martinez pointed out resurgence of individual Bitcoin investors. The number of new BTC addresses on the network rose to 352,124, marking its highest level since April.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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