Crypto Trader DonAlt Posts Bitcoin Price Prediction
DonAlt shared a new Bitcoin price prediction today to Twitter and YouTube, where he has a combined 469,000 followers including subscribers to the TechnicalRoundup YouTube channel.
DonAlt (@CryptoDonAlt) stated that he is ‘buying now’ at around the $19,000 level, and is ‘always comfortable buying below $20,000’ – timestamp 14:10 in the video below.
He does not rule out Bitcoin trading lower in the near term, in which case he will “buy more” and add to his spot position – warning against using leverage with CPI data due on Thursday.
DonAlt streams live on the TechnicalRoundup channel every week with another popular trader @CryptoCredwho has 501,000 followers on Twitter.
DonAlt Bitcoin Price Prediction – Crypto Twitter
DonAlt’s rationale – shared by various other notable crypto Twitter accounts such as TraderSZ and CryptoISO – is that the markets have been so battered and beaten down that it is now more likely to go up. Although it was just a bear market rally to push offside shorts, within the long-term macro downtrend.
His advice is to buy the dip on Bitcoin now when the market is ‘depressed’ as a better play than green candle FOMOs and $100,000+ price targets shared by the most vocal Bitcoin bulls like Michael Saylor.
DonAlt also tweeted that his “gut for the trading markets” (eg the S&P 500) is down, but that the crypto will finally start to disconnect and move up.
In recent days, Bitcoin has shown signs of resilience against the SPX – while so far in 2022 it has simply been a sign that cryptocurrency is lagging behind, DonAlt is optimistic that the correlation between Bitcoin and stocks will end.
DonAlt’s new Bitcoin price prediction is notable for his wide following and since he accurately warned traders of the incoming bear market around the top of November 2021.
When Bitcoin printed an SFP (swing failure pattern) at the previous $65,000 high, DonAlt tweeted along the lines of ‘See you in a year‘.
As the Bitcoin price began its now almost twelve-month correction, DonAlt warned against opening a position, mostly staying in cash – until now. He was also critical of Do Kwon and Terra LUNA long before the May 2022 crash.
Later in his Bitcoin analysis video, DonAlt highlighted the above price levels.
He mentioned that while he doesn’t think Bitcoin will reach $33k in the near term, by the first quarter of 2023, he doesn’t predict it will hit the $12 – $14k range either – a common price target for Bitcoin bears, and monthly support.
His current Bitcoin price target is the $29,000 range where he will sell Bitcoin to divest.
Crypto price movements
Bitcoin price is currently testing the $19,200 level and is up almost 1% in the last 24 hours, quickly recovering from two smaller drops earlier today when PPI data and FOMC minutes were released.
Given Bitcoin’s strength today, CryptoISO – who has 115,000 followers – expects it to rise tomorrow if the CPI has a “hint of something positive”.
Several altcoins we’ve been following closely are back in the headlines – Tamadoge (TAMA) has risen 29% in the last 24 hours on the OKX exchange.
Terra Classic is trending on new news that Binance has burned nearly 3 billion LUNC from its circulating supply.
The pre-sale of the IMPT token is also approaching the $4 million mark raised.
