Strategist Who Accurately Predicted 2022 Bitcoin Bottom Details When To Expect The Next Massive BTC Rally
A closely followed crypto analyst who nailed the 2022 bottom for Bitcoin (BTC) predicts when the crypto king could possibly turn a corner and rally.
The analyst pseudonymously known as DonAlt says his 464,700 Twitter followers that the old asset markets have a bearish effect on Bitcoin.
According to DonAlt, Bitcoin can rally when the traditional markets turn bullish.
“BTC is getting ripped off by the traditional markets, but refuses to make new lows while the S&P [stock index] bleed out.
The moment the traditional markets bounce, I expect a green candle massively outperforming BTC.”
Bitcoin is trading at $22,370 at the time of writing, a fractional increase on the day.
DonAlt too updated his outlook, saying his view still holds even though Bitcoin was mostly flat yesterday while the stock market rallied big. However, he notes that BTC’s less-than-stellar reaction to the stock market is not “optimal.”
Meanwhile, pseudonymous trader Altcoin Sherpa is of the opinion that Bitcoin is likely to see more downward price action. According to the trader, Bitcoin may witness another sell-off event before starting a recovery.
“BTC: it’s possible we see a higher low forming now, but I really don’t think so. I think we’re going to see another leg down.
Note: I still think we’ll go to $30,000 in the interim.”
Altcoin Sherpa too says that it is within the realm of possibility for Bitcoin to go through an extended bear winter.
“BTC: some mark the top as May 2021. Others mark it as November 2021. Either way, it’s been a long time in this Bitcoin bear market.
And it will probably take much longer for the BTC price to really ‘bottom’ out.”
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