The Bitcoin market recently surpassed its previous all-time high of $73,000+, reaching a price of $91,727.28, which is at least 25.41% above the previous ATH. Crypto analyst Ali Martinez believes that the market may not experience a major pullback until it hits $138,000, citing historical market correction patterns.
In December 2013, Bitcoin hit a high of $1,130 before breaking through this level in April 2017. On June 11, 2017, a significant correction occurred after reaching an ATH of $2,952, marking a 161.23% rise.
Similarly, before the start of the 2020 bull run, Bitcoin’s highest peak was $19,132 in December 2017. On November 30, 2020, the market surpassed this ATH and reached $40,633 by January 8, 2021, showing a 112.38% growth before experiencing a 25.09% correction by January 27, 2021.
Ali predicts that Bitcoin may not see a major correction until it reaches $138,000, indicating a potential growth of at least 84.91% from the current price of $91,573.86. This prediction is based on historical price correction patterns observed in the 2017 and 2020 bull runs.
Overall, investors can expect a possible correction of at least 25% once Bitcoin reaches $138,000, as suggested by the historical bull market patterns.
