A top analyst who accurately called Bitcoin’s (BTC) 2022 price floor says the king crypto’s current cycle top may max out at $100,000.
In a new strategy session, pseudonymous analyst DonAlt tells his 58,600 YouTube subscribers that Bitcoin may soar more than 47% from the current value to print a cycle top if there is a near-term correction.
“If we go lower, it’s going to be easier to go a little bit higher. At that point, I think $80,000 to $100,000 would be realistic. If we don’t go lower and just go up I think there’s a chance like $70,000, $80,000 or $90,000 is the top instead of like $80,000, $90,000, $100,000. And then I think it’s going to be sh*t price action for a long time.
But anyway, at these price levels, you’re going to see altcoins go wild. They’ve already gone wild. It’s just you’re going see a market-wide altcoin kind of mania.”
The analyst believes one possible Bitcoin scenario is a correction to $50,000 before a move to new all-time highs, capping off the cycle.
“I think we’re pretty late into the cycle. And I think if we’re going to make a new high I think that’s going to be the last one. So if this nukes similar to what we did here where we had a high here [around March 4] and then rallied here [around March 11] before the nuke, I think if we’re going to make a new high… let’s say this nukes, goes to $50,000, kind of comes back, rallies, I think that is basically going to be the top before the cycle ends.”
Bitcoin is trading for $67,886 at time of writing, up 2.5% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: DALLE3
The post Top Analyst Who Nailed 2022 Bitcoin Bottom Says BTC Could Surge by Around 45% Before Hitting the Bull Cycle Peak appeared first on The Daily Hodl.
