bitcoin A crypto strategist who correctly predicted the bottom of Bitcoin (BTC) in 2022 says that new bear market bottoms are not in the future of king crypto.
However, the trader nicknamed DonAlt told his 476,400 Twitter followers that the risk-reward investment rate of Bitcoin’s current value of $30,202 is undesirable. says.
“It’s pretty simple for me. I think this is where around $32,000 to the upper range about $60,000 is where most of the risk and little reward is. According to IMO, I don’t think we’re going to make new bottoms. So the closer you get to the bear market line, the better.”
Looking at its chart, the crypto trader says that investors would be better off buying Bitcoin at $20,000, which is closer to the bear market line, to have a better risk-reward ratio on their investments. Bitcoin reached a bear market low of $15,700 in November.
He also identifies market range trends, calling $20,000 to $30,000 the “whatever market” range and $30,000 to $32,000 “indecision.” DonAlt says that above the $32,000 level is the “bull market” range that saw Bitcoin hit its all-time high of around $69,000 in 2021.
crypto trader, crypto- King says he sold Bitcoin at $30,000 earlier this week, and sold Litecoin (LTC) and XRP on Friday after buying all three in November.
“I have sold BTC in the last few days, and LTC and XRP today.
It was my pleasure, I didn’t think I’d move this fast but I’m still happy. I will take some time to decide where I want to trade next.”
On Tuesday, DonAlt said he has made 2x profits from his Bitcoin investment.
“I have closed the position for now. I am happy with the 2 coats I have achieved and will rest for a while until I see another great opportunity. I am not bearish but I want to stay calm for the next few months and think about other things than BTC price.”
You can follow the current market movements here.