Ali Martinez, a cryptocurrency analyst and trader, is bullish about Cardano.ADAThe market has been on a roll.
Martinez tells Cardano has 76.100 followers currently on X, the social media platform. “following a similar pattern to 2020” In just 343 day, the price of gasoline increased approximately 4,095%.
“If history repeats, we might see a pump around November 18th — about two weeks after the US elections — and a potential market top by September 2025.”
Cardano was trading for $0.355 when this post was published.
Bitcoin is the next big thing (BTC). Martinez says According to the MVRV pricing bands (Market Value to Actual Value), Bitcoin’s value could increase by 16% in the near future. MVRV, also known as the Market Value to Realized Value (MVRV) ratio, is a way of determining whether Bitcoin in a given moment is overvalued or undervalued.
Standard deviations are used to indicate the overvaluation and undervaluation of Bitcoin in MVRV’s pricing bands. The value 1 represents a neutral or stable market. Below 1 is an indication of undervaluation, while above it indicates overvaluation. According to Martinez’s graph citing Glassnode data, Bitcoin MVRV was priced at around 0.5 standard deviations earlier in the week.
“With Bitcoin pushing past $70,500, the next local top might be around $84,200, according to the MVRV Pricing Bands!”
Bitcoin currently trades at $72,345 as of the time this article was written.
This analyst is also says Based on the past, Bitcoin may be in a bullish period over the coming month. Martinez’s chart of Bitcoin’s returns in the 11-year period shows that 63% times, Bitcoin has ended higher than when it began.
“Moon-vember is just around the corner!”
Don’t Miss a Beat – Subscribe Receive email alerts directly in your mailbox
Check out the latest news and updates on our website. Price Action
Please follow us X, Facebook You can also find out more about the following: Telegram
Search for a way to surf The Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors must do due diligence prior to making high-risk investment in Bitcoin, cryptocurrency and digital assets. You are responsible for any losses that you might incur. The Daily Hodl neither advises the purchase or sale of cryptocurrencies, digital assets or any other type of digital asset. Nor is The Daily Hodl a financial advisor. The Daily Hodl is an affiliate marketer.
Midjourney: Generated Image
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: dailyhodl.com
