Rally

FOMO

Bitcoin

when

<p>The world’s largest cryptocurrency Bitcoin (BTC) rallied all the way past <a href="https://coingape.com/breaking-bitcoin-btc-price-breaches-70000-ath/" target="_blank" rel="noopener noreferrer nofollow">$70,000</a> on Friday hitting its new all-time high. Bitcoin has been on an unstoppable journey over the last month with net inflows skyrocketing in the newly launched spot ETFs.</p>
<h3 id="bitcoin-btc-price-bull-run">Bitcoin (BTC) Price Bull Run</h3>
<p>Renowned crypto analyst Ali Martinez has unveiled insights into Bitcoin’s market trajectory, drawing from historical patterns to forecast the timing of the next market peak.</p>
<p>According to Martinez, Bitcoin has exhibited a consistent trend in past cycles, taking approximately 8 to 11 months from surpassing its previous all-time highs to reach a market top. With Bitcoin currently surging to unprecedented highs, Martinez’s analysis further suggests that the next peak in the Bitcoin market could occur between November 2024 and February 2025.</p>
<figure id="attachment_184863" aria-describedby="caption-attachment-184863" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-184863" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run.jpeg" alt="" width="2838" height="1403" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run.jpeg 2838w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-300x148.jpeg 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-1224x605.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-768x380.jpeg 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-1536x759.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-2048x1012.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-bull-run-150x74.jpeg 150w" sizes="(max-width: 2838px) 100vw, 2838px">
 <figcaption id="caption-attachment-184863" class="wp-caption-text">
  Courtesy: <a rel="noopener noreferrer nofollow" href="https://twitter.com/ali_charts/status/1766201878235185535" target="_blank">Ali Martinez</a>
 </figcaption>
</figure>
<h3 id="what-happens-to-btc-next-after-70-000">What Happens to BTC Next After $70,000?</h3>
<p>As the <a href="https://coingape.com/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> challenges its previous all-time highs, it continues to face rejection as soon as it enters the new discovery phase. After hitting a new all-time high of $70,000, the BTC price has retraced partially and currently trading at $68,423 levels with a market cap of $1.350 trillion.</p>
<p>One of the biggest doubts within the community is whether fresh investments could be made at this point in time. Bitcoin has given a strong run-up ahead of its next halving, a month from now. Some investors speculate that the BTC price could rally to $100,000 around the halving time.</p>
<p>On-chain data provider Santiment explains that Bitcoin has surged to a new all-time high, hitting a remarkable market value of $70,199. Despite this significant milestone, traders are showing signs of both exhaustion and distraction towards alternative coins aka altcoins.</p>
<p>Currently, discussions regarding $BTC compared to other assets stand at a healthy 27.5%, indicating a balanced sentiment. However, it falls short of the overwhelming enthusiasm observed when Bitcoin surpassed $60K just nine days ago—an encouraging sign as excessive FOMO and greed often precede market corrections.</p>
<p>Furthermore, the Mean Dollar Invested Age metric reveals a rapid movement of previously inactive coins back into circulation, a common phenomenon seen in bull markets. Until sentiments of widespread excitement and coin dormancy resurface within the Bitcoin network, the potential for further market cap growth remains promising.</p>
<figure id="attachment_184864" aria-describedby="caption-attachment-184864" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-184864" src="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle.jpeg" alt="" width="2665" height="1761" srcset="https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle.jpeg 2665w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-300x198.jpeg 300w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-1224x809.jpeg 1224w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-768x507.jpeg 768w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-1536x1015.jpeg 1536w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-2048x1353.jpeg 2048w, https://coingape.com/wp-content/uploads/2024/03/Bitcoin-Bull-Cycle-150x99.jpeg 150w" sizes="(max-width: 2665px) 100vw, 2665px">
 <figcaption id="caption-attachment-184864" class="wp-caption-text">
  Courtesy: <a rel="noopener noreferrer nofollow" href="https://twitter.com/santimentfeed/status/1766174056246816791" target="_blank">Santiment</a>
 </figcaption>
</figure>
<p>The post <a href="https://coingape.com/bitcoin-btc-price-bull-run-to-continue-till-november-as-per-historical-data/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Bull Rally To Continue Till November As Per Historical Data</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

Bitcoin (BTC) Price Bull Rally To Continue Till November As Per Historical Data

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