Ali Martinez: bitcoin will collapse by 50%

Cryptocurrency analyst Ali Martinez, amid the rapid growth of bitcoin BTC $84,302.31 Bitcoin -2.85% Market capitalization $1.67 trillion VOL. 24 hours $1.89 billion , said that key historical indicators indicate a possible decline in the value of the leading virtual asset.

It is noted that the interest of retail investors may lead to a dangerous overvaluation of the asset.

Thus, an increase in Google searches for «Bitcoin» often coincides with price corrections. A similar situation was observed in 2021, when increased interest led to corrections of 30%, 26%, 27%, and even 50%.

Now, as the price of bitcoin is approaching $ 90,000, interest is growing rapidly again. Martinez cautions that while the increased interest is a boost to capital inflows, it could also indicate a peak in the market.

At the time of writing, bitcoin’s price was $ 87,484, its market capitalization was $ 1.73 trillion, and daily sales stood at $ 119.12 billion.

Photo: coinmarketcap.com/