Crypto analyst Ali Martinez is predicting some big swings in the crypto market, specifically for Dogecoin (DOGE) and Bitcoin (BTC).
Dogecoin’s Wild Ride
Martinez believes Dogecoin is about to go on a parabolic run, meaning a rapid price increase. He points to a bearish signal from the Tom Demark (TD) Sequential indicator. Interestingly, this same signal appeared before major Dogecoin rallies in 2017 and 2020. He warns that this run might test investors’ patience due to potential dips along the way. His chart analysis suggests DOGE could hit $14 if it follows a certain price pattern. Currently, DOGE is trading around $0.42.
Bitcoin: Defying the Crowd?
While many are predicting a Bitcoin correction after its recent climb near $100,000, Martinez remains bullish. He notes that a lot of social media chatter is focused on a potential pullback, suggesting the market might actually move in the opposite direction.
The Mining Cost Factor
Martinez reinforces his bullish Bitcoin outlook by highlighting the average Bitcoin mining cost, currently around $90,524. Historically, Bitcoin hasn’t fallen below its mining cost during bull runs, lending support to his prediction of further price increases. Bitcoin is currently trading at approximately $96,523.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
