DonAlt is the analyst who accurately predicted the negative dynamics of the crypto market in 2022. This precedent makes him one of the most followed analysts in the crypto industry. Users should, however, keep in mind that once is not usual. As the crypto market is volatile, successful predictions are only valid for a relevant period.
Bitcoin above $35,000, if the $28,000 mark is crossed
The price of bitcoin (BTC) fell by 0.59% in the last 24 hours to settle around $27,777. A drop which is in line with its loss of valuation in one week which is of the order of 1.93%.
In this bearish context, analyst DonAlt delivered, Sunday October 8, what he envisions will pass for bitcoin, in the weeks and months to come. As the flagship crypto tickles the $28,000 mark, it has the potential to explode again, he thinks.
According to DonAlt, bitcoin could soar and exceed the price of $35,000. A more than interesting level compared to what bitcoin is currently worth. The analyst warns, however, that its achievement depends heavily on the increase in the price of bitcoin to $28,000.
“Anyway, my main scenario is around $28,000. This level is currently under watch, and we could exceed $35,000. It’s the last line of defense in down cycles, and they’re watching it closely.”said the analyst.
Otherwise, a price between $20,000 and $23,000 should be considered.
DonAlt relies on certain elements to consider an increase in the price of bitcoin despite its current trend. There is mainly the fact that the sentiment of crypto traders remains bearish. This, despite recent price movements deemed “constructive”.
“When I evaluate the charts, I have witnessed a prolonged downtrend. However, recent analysis reveals constructive price actions. Oddly enough, market sentiment still leans towards a bearish outlook”notes the expert.
As a result, although crypto prices are showing signs of recovery and building, continued investor pessimism could limit the speed of this recovery. Worse, it could even undermine the dynamic by leading to contradictory price movements.
In such circumstances, a further fall in the price of bitcoin is likely according to DonAlt. Thus, if bitcoin fails to cross this level of 28,000, the analyst raises the possibility that the asset will end up being valued in a range between $20,000 and $23,000. Opportunity hunters take note!
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