An analyst who bucked the trend and bought Bitcoin (BTC) at its lows late last year is updating his outlook on the crypto markets.
The pseudonymous trader, who goes by DonAlt, says that Bitcoin now has a real and sustainable narrative amid the backdrop of failing banks in the US and abroad.
At this point, the trader believes that BTC will never fall below $20,000 again, and bears hoping for another crypto crash will not get the entry they are looking for.
This literally means that I think $20k was THE LOWEST and we will not go below it again.
If I'm wrong, the whole idea is wrong, but I doubt it is.
Since I don't know the future, it's good to know that I'll still lock in 30% profit in the worst case. https://t.co/f91j3Stu49โ DonAlt (@CryptoDonAlt) March 15, 2023
DonAlt says you are not done buying, and your goal is a breakout of BTC to $100,000.
โIf you are selling while the banks are failing, you never should have bought in the first place. This isn't a short-term narrative, it's not like, 'Hey, Elon bought it.' It's a systematic...
We are almost at $30,000 despite the fact that in the last 12 months:
-Luna put on her boobs
-3AC perished
-Celsius imploded
-Blockfi exterminated
-Voyager bit the dust
-FTX output scammed
-Genesis was killed
-Bitzlato was taken from us
-US Crypto Banks Shut Down
-Aggressive SEC interventionโ
Bitcoin has recovered from a recent March 10 low of $19,622 to $24,555 at press time. The main crypto asset is down 1% in the last 24 hours.
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