Current Analysis of Bitcoin by Ali Martinez

Cryptocurrency analyst Ali Martinez evaluated the current state of Bitcoin in his latest statements.

According to Martinez, the Bitcoin price should not fall below the $92,730 level; if a drop below this level occurs, a free fall may begin for the BTC price.

However, the analyst also explained the conditions under which this bear thesis would be invalidated. According to him, the bear scenario could be shelved in the event of sustainable closes above $97,300 and, more critically, a daily close above $100,000.

At the time of writing, the BTC price is trading at $94,379.

Despite this, the analyst continues to hold bullish views. Martinez argued that a 20% to 30% drop in BTC price could be one of the most bullish events that could happen to Bitcoin.

Additionally, the analyst touched on the altcoin world, predicting that the Chainlink (LINK) price could drop to $14 if the Head and Shoulders formation is confirmed. The LINK price is currently trading at $21.92.

This is not investment advice.