A crypto strategist named DonAlt who correctly predicted Bitcoin’s bottom in November 2022 has made his next prediction after Bitcoin corrected below $23000.
In the new issue of Weekly Open, the trader nicknamed DonAlt still believes that BTC’s bull market structure is still intact.
However, he cautioned that if Bitcoin bulls are unable to get back to $23,000 in the short term, DonAlt believes a BTC correction down to $2000 is possible.
Even so, the trader said a drop to that level doesn’t necessarily mean Bitcoin’s 2023 uptrend is over.
“For me, I still think if BTC returns to the $200,000 level, it will still be a short-term correction after the strong growth period from the beginning of 2023. But if BTC corrects to the $20,000 region, it will make many investors are scared.”
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At the time of writing, the price Bitcoin is trading at $22386, down nearly 4.2% over the past 7 days.