The cryptocurrency market has become an ecosystem that evolves dynamically day by day. DonAlt, one of the analysts involved in this dynamism, predicted that Bitcoin may experience a significant price increase in the coming weeks and reach $ 60,000. This ambitious prediction of DonAlt caused a wide repercussion in the cryptocurrency community. Details are in our news…
The analyst, whom we know under the pseudonym DonAlt, claimed that BTC could see severe increases in the coming weeks. DonAlt’s to the analysis Bitcoin’s charts currently point to a “supersonic” rise. In his assessment based on technical analysis and market dynamics, the analyst states that BTC is preparing for a significant price increase with the following words:
“I would love to be bearish, but how can I do that with a chart like this? I’d rather risk some of my profits before selling something that looks like it wants to go supersonic…
“We’re at a weird point in the market cycle where I wouldn’t be surprised if we hit $60,000 in a month.”
NEWS CONTINUES BELOW
As of now, Bitcoin is trading around $37,033. However, according to DonAlt’s prediction, if this figure results in a significant increase, there may be a 60% increase in Bitcoin value in a short time.
However, among the key factors behind all these predictions, the potential approval of a spot-based Bitcoin exchange-traded fund (ETF) and the market impact it would bring stand out.
Koinfinans.com As we reported, DonAlt thinks the main driver of this rise is the hype around the possible approval of a BTC ETF. On the other hand, the analyst also warns that if the BTC ETF is approved, experienced investors can use this event to secure their profits. That is, he emphasizes that it is important to be cautious due to the volatility this process may bring.
“Bulls clearly will not sell before the ETF and halving event, and to be honest even most bears are not stupid enough to be bearish on such an obvious catalyst. Once the ETF is approved, things get difficult. This may be a case of selling based on news, but there is also a possibility that it may not happen. I definitely don’t know. Funnily enough, the longer this ETF decision goes on, the higher prices are likely to rise. Because there is little reason to sell until it actually happens.”
The analyst also clearly stated that the crypto bears who expected BTC to fall were in vain:
“People here are still talking about $12,000. “BTC is more likely to go to $100,000 here than to go back to $12,000.”
You can follow the current price movement here.