Cryptocurrency markets have experienced great fluctuations recently, and this brings with it an environment full of opportunities and risks for investors. During this active period, analyst DonAlt’s positive views and predictions about Bitcoin (BTC) attracted attention.
When DonAlt evaluates Bitcoin’s recent performance, he emphasizes that it has managed to hold above the $ 34,000 level, which indicates that BTC has entered a potential uptrend.
DonAlt, this is positive your opinions While supporting it, he also warns that one should be careful about short-term fluctuations in Bitcoin’s price. He advises investors to be aware that Bitcoin may experience a sideways price movement for a period of time over the next few weeks. However, DonAlt expresses his belief that from a long-term perspective, the value of Bitcoin will increase and therefore he intends to hold Bitcoin holdings for a long time.
“Given that this could turn into a false upside breakout, it actually looks surprisingly good. I wouldn’t be surprised if we see sideways movement upwards for a while before we ship out completely. Generally speaking, if you experience a decline towards $32,000-33,000, you can consider yourself very, very lucky…
BTC is such a clever play this time that I will literally ignore everything until I think BTC is nearing/at its peak. I want to sell my BTC to the generation that doesn’t even know what the internet is. From now on I will start talking about YOLOing altcoins.”
The popular crypto trader had previously stated that Bitcoin does not have time frame resistance as high as $60,000.
DonAlt also drew attention to the competition between Bitcoin and Ethereum (ETH). The analyst suggests that Bitcoin will perform better in the short term compared to Ethereum. This view can be considered as a sign that Bitcoin will continue to maintain its leading position in the crypto market.
The trader shared an inverted ETH/BTC chart showing how the ETH/BTC trading pair broke the support at 0.056 BTC.
You can follow the current price movement here.