Ali Martinez Assesses the State of Bitcoin and Dogecoin: What to Expect

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Bitcoinsistemi2024/10/06 12:15

By:Mete Demiralp

Cryptocurrency analyst Ali Martinez evaluated the price of Bitcoin and Dogecoin in his statement. Here are the details.

Cryptocurrency analyst Ali Martinez shared his views on Bitcoin, Dogecoin, and the general market in his latest statements today.

Starting with Dogecoin, the analyst wrote a bullish scenario for DOGE. According to the analyst, the number of large-scale transactions on the Dogecoin network continues to rise, which could mean that institutional investors and DOGE whales are potentially positioned for a rally.

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In addition, Martinez drew attention to a little-talked-about metric about Bitcoin. According to the analyst, the BTC price has been trading lower than short-term investors’ realized prices since June 2022.

According to the analyst, as long as the BTC price remains below this level, short-term investors may sell to avoid further losses and trigger a sell-off. According to the analyst, this level is located at $63,000 and should be followed carefully.

At the time of writing, the BTC price is at $62,083, which is close to the level Martinez mentioned, although it is lower.

*This is not investment advice.

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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