Analyst sets date when Bitcoin is likely to hit $250,000

Prominent cryptocurrency analyst Ali Martinez has suggested that if historical trends play out, Bitcoin ( BTC ) could potentially hit $250,000 in the coming ￰0￱ outlook is based on a comparison of Bitcoin’s current monthly price structure to previous bull market cycles, particularly the parabolic rallies of 2016–2017 and 2020–2021. In an X post on November 1, Martinez noted that each of those cycles followed a period of consolidation, then a strong breakout that coincided with a bullish crossover on the MACD indicator, a popular momentum ￰1￱ price analysis chart.) of $114,247, signaling short-term bullish momentum as the asset holds a premium over this key support level.

However, it sits below the 200-day SMA of $105,861, reflecting a longer-term bearish tilt and potential vulnerability to deeper pullbacks if momentum fades. Meanwhile, the 14-day Relative Strength Index ( RSI ) stands at 46.37, indicating neither overbought exhaustion nor oversold conditions, suggesting sideways consolidation is likely in the near term unless a decisive catalyst ￰2￱ image via Shutterstock