DonAlt is a famous trader who accurately predicted the bottom price of bitcoin (BTC) in 2022. On March 29, he posted a video on his YouTube channel. He shared his new perspectives on the flagship crypto. Here is the new prediction from crypto strategist DonAlt.
Bitcoin on its way to resistance at $35,000?
The price of bitcoin rose significantly from March 12 to 13, after a government announcement on the SVB. Since then, the flagship crypto has been on an uptrend that could get bigger according to traders like DonAlt. He recently expressed his optimism about the future of bitcoin (BTC). He explained : “So far so good, right? The purchases we made at $16,000 almost doubled. Also, there is still a lot to do. The month looks good, the month is bullish“.
The crypto strategist added that if bitcoin maintains an upward trajectory, “next resistance is $35,000“. However, DonAlt thinks his Bullish Thesis Will Be Invalidated If Bitcoin Falls Towards $22,000. “If the next two days go horribly wrong and we fall below $23,000, forget what I said and hide in your bunkers because we’re screwed then.», said the famous trader.
DonAlt added: “The week looks good as long as we realistically hold $20,000. That said, my new invalidation is anything really below $22,000. In fact, if we get back below that momentum candle we had, I think it’s over.“. Even so, the crypto strategist doubts his bullish thesis can be invalidated. That said, the flagship crypto is currently trading around $28,500.
The influence of the banking crisis
DonAlt believes that the banking crisis in the United States has contributed to the rise in prices in the crypto market. “Bank bailouts are basically the most bullish thing one can have for cryptos. It’s the reason cryptos exist, it’s the reason many of us are in this market“, he explained. Many crypto players think like DonAlt. At the same time, some believe that Bitcoin is not really a good alternative to the current financial system.
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