Crypto analyst and trader Ali Martinez have taken to Twitter to share an optimistic outlook on Bitcoin, highlighting another bullish confirmation signal. He observes a positive trend for Bitcoin (BTC) through the realized price metric, indicating potential market growth. <\/p>\n
According to Martinez, this particular bullish signal has proven its potency over the past three years, consistently driving Bitcoin to achieve remarkable new price highs.\u00a0<\/p>\n
The realized price represents the average price of all circulating Bitcoins, calculated by their last movement, while the long-term holder realized price focuses on the average acquisition price of Bitcoins untouched for at least five months.<\/p>\n
Meanwhile, Martinez interprets this development as a bullish sign, suggesting a growing influx of new investors willing to buy at higher prices. He states, “The crypto market is gaining momentum, with newer investors willing to buy at higher prices. <\/p>\n
This can be seen as a bullish sign, showing confidence in BTC’s future performance. The last three times this happened, BTC skyrocketed 12,736%, 4,474%, and 819%, respectively.” Bitcoin is currently priced at $43,697, as per coinpedia news.<\/p>\n
Martinez shifts attention to Cardano (ADA), identifying parallels in its current trajectory with the period from 2018 to 2020, excluding the impact of the COVID-19 downturn. <\/p>\n
ADA, currently the ninth-largest crypto asset, could potentially rally by approximately 72% if it maintains its existing pattern. Martinez suggests that if ADA adheres to the observed pattern, there’s a likelihood of breaking through the $0.45 resistance level.<\/p>\n
Meanwhile, Cardano is trading at $0.5186 with a market capitalization of $18 Billion.<\/p>\n