Crucial indicator signals Bitcoin rally, 800% price explosion likely, says Ali Martinez

Crypto analyst and trader Ali Martinez took to Twitter to share his bullish outlook on Bitcoin and highlighted another bullish confirmation signal. He observes a positive trend in Bitcoin (BTC) through realized price indicators, indicating potential market growth.

Bitcoin’s Bullish Momentum

According to Martinez, this particular bullish signal has proven its potential over the past three years, continuously pushing Bitcoin to achieve surprising new price highs.

The realized price represents the average price of all circulating Bitcoins calculated from the last movement, while the long-term holder realized price focuses on the average acquisition price of Bitcoins that have been unaffected for at least five months.

Meanwhile, Martinez interprets the situation as a bullish signal, suggesting an increasing influx of new investors looking to buy at higher prices. “The cryptocurrency market is gaining momentum with new investors willing to buy at higher prices,” he said.

This can be seen as a bullish signal showing confidence in BTC’s future performance. The last three times this happened, BTC surged 12,736%, 4,474%, and 819% respectively.” According to Coinpedia News, the current price of Bitcoin is $43,697.

Possibility of Cardano (ADA) price surge

Martinez turns his attention to Cardano (ADA), identifying similarities between its current trajectory and the period from 2018 to 2020, excluding the impact of the COVID-19 recession.

ADA, currently the 9th largest cryptocurrency asset, could potentially rise by around 72% if it continues its existing pattern. Martinez suggests that ADA is likely to break the $0.45 resistance level if it sticks to the observed pattern.