Bitcoin Expectations Signal a Post-Halving Rise Globally, Analyst Disagrees
Renowned analyst DonAlt, who accurately predicted the 2023 crypto rise, has sparked a debate by suggesting that even if Bitcoin drops to $52,000, the bullish market will continue with an “incredibly strong” outlook.
DonAlt, known for his accurate market predictions, previously informed thousands of crypto enthusiasts that a 30% correction after Bitcoin’s nearly 170% rise from October 2023 to March 2024 should not come as a surprise.
According to DonAlt, a potential drop to $52,000 will not hinder Bitcoin’s future bullish outlook. He further stated that if Bitcoin manages to surpass the $69,000 mark, the prevailing bearish sentiment will dissipate.
Meanwhile, the downward trend in Bitcoin continues, as the cryptocurrency struggled to maintain stability above $63,000 and is currently trading at $62,900 after a 1.19% dip.
During this period, the Bitcoin market cap has fallen to $1.238 trillion, while the trading volume has surged by 48% to $25 billion, triggering concerns of short selling in the market.
Disclaimer: This article is not intended as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and should conduct their own research.
