Crypto analyst Ali Martinez predicts that Bitcoin (BTC) is repeating previous bullish cycles, raising the possibility of reaching the $150,000 milestone in the near term.
He notes that after surpassing its previous all-time high, BTC has consolidated for a week—similar to market behavior seen in 2017 and 2020.
Martinez forecasts that Bitcoin could rise an additional 50% from its current price before undergoing a correction of around 30%.
Historical data shows that in the 2017 cycle, BTC surged 156% before declining 39%, while in 2020, it climbed 121% before a 32% correction.
According to Martinez, if this pattern repeats, BTC could reach at least $138,000 before undergoing a pullback.
Currently, Bitcoin is trading at $97,556, showing no significant movement in the past day.
Ethereum Holds Strong at $3,000
For Ethereum (ETH), Martinez highlights that the $3,000 price level is a strong support zone, with over 2.82 million addresses purchasing a total of 6.14 million ETH around this range.
He predicts this could serve as a springboard for ETH to enter a new bullish phase.
As of now, ETH is trading at $3,124, down 1.9% in the last 24 hours.
