Popular cryptocurrency trader DonAlt predicts an event that will happen Bitcoin He thinks it could trigger sharp double-digit declines in price.
DonAlt believes that BTC could fall approximately 37% from its current level if the US Securities and Exchange Commission (SEC) refuses to approve a spot Bitcoin exchange-traded fund (ETF).
In his video, the trader thinks that the current consolidation level may drop to 33,000 to 38,000 dollars after a rejection news. However, if the decline does not stop at this level, there is a risk of falling to $ 24,000 levels.
The analyst states that the main reason for the rise from the levels he stated is the possibility of ETF approval and thinks that these levels are not a dream.
As Koinfinans.com reported, DonAlt believes that Bitcoin ETF approval could also reduce the price. According to Trader, the possibility of ETF approval is already priced in.