A prominent crypto analyst who identified a 2022 bottom for Bitcoin (BTC) is predicting when the king cryptocurrency may reverse and rise in price.
Analyst nicknamed DonAlt talk to 464,700 followers on his Twitter that Bitcoin can rise in price as traditional markets rise.
BTC is being dragged by the trade markets but refuses to make new lows while the S&P is bleeding out
The moment the traditional markets bounce I’m expecting a massive outperforming green candle from BTC
— DonAlt (@CryptoDonAlt) March 2, 2023
“BTC is being influenced by traditional markets but refusing to make new lows while the S&P (stock index) is drying up.
The moment the traditional markets recover, I am expecting a superior green candle from BTC.”
Bitcoin is trading at $22,370 at press time, up a fraction of the day.
DonAlt also update his view, stating that his view is still correct even though Bitcoin was mostly flat yesterday while the stock market rallied. However, he noted that BTC’s less-than-stellar response to the stock market rally is not “optimal.”
Meanwhile, trader nicknamed Altcoin Sherpa thinks that Bitcoin is likely to see more bearish action. According to the trader, Bitcoin could see another sell-off event before it starts to recover.
“BTC: maybe we are seeing higher lows forming right now, but I don’t really think so. I think we will see the candle go down.
Note: I still think we will hit $30,000 in the medium term.”
Altcoin Sherpa also speak that it is likely that Bitcoin will experience a prolonged bearish winter.
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