Analyst and trader Ali Martinez claimed that a popular metric in Bitcoin (BTC) is generating a bullish signal. He also made a bullish prediction for a popular altcoin. Details are in our news…
According to Ali Martinez’s evaluations, the increase in Bitcoin (BTC) prices indicates a significant increase in the realized price measure. Martinez defines this situation as the realized price of Bitcoin exceeding the price paid by long-term holders for their Bitcoin. This can be considered an indicator of an increase in momentum in the market and the potential participation of new investors in the market.
Realized price stands out as a metric that measures the average price of an asset paid by all market participants, weighted by supply. This is an important tool used to better understand the overall value in the market and analyze price movements. Additionally, it appears that the realized price helps determine support and resistance levels in on-chain analyses.
The realized price is calculated based on the price when each Bitcoin was last traded. However, this calculation is performed by excluding idle Bitcoins that are not transferred, not traded, and therefore have no value. This allows a more precise measurement of the current value of the Bitcoin network.
As Martinez emphasized, the rise in the realized price of Bitcoin relative to the realized price of long-term holders’ BTC could be an indicator of strong demand in the market. Meanwhile, the realized price for long-term investors is the average purchase price of all Bitcoins that have not moved for at least five months.
“The crypto market is gaining momentum as new investors are willing to buy at higher prices. This can be seen as a bullish sign indicating confidence in BTC’s future performance. “The last three times this has happened, BTC has skyrocketed by 12,736%, 4,474%, and 819% respectively.”
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Bitcoin is trading at $43,302 at the time of writing this article.
Besides these, Martinez also examined the popular altcoin Cardano (ADA). Martinez states that, according to detailed analysis on Cardano (ADA), the trading range of the cryptocurrency repeats the trajectory observed from 2018 to 2020, except for the Covid-19 downturn. This similarity pointed out by Martinez is considered an important indicator to evaluate the future potential of ADA’s past performance.
According to Martinez, if ADA maintains the current model, it is estimated that the cryptocurrency could increase in value by approximately 72% from the current level. is being.
The determining factor for Cardano’s future performance is whether the altcoin can sustainably maintain its current model. According to Martinez’s analysis, if the current model continues, it is predicted that ADA may break the resistance of $ 0.45 in the coming period and then show a potential rise to $ 0.75 by the end of December.
“If this pattern continues, we may see ADA break the $0.45 resistance soon. What’s next? A potential rise to $0.75 by the end of December!”
You can follow the current price movement here.