It has been just revealed the fact that Bitcoin is about to make a huge move this year. Check out the latest reports about this below.
Bitcoin is about to make a massive move
According to a trader who profited from the recent surge in cryptocurrency prices, Bitcoin’s current price movement is not promising for the digital asset’s future.
The analyst, known only as DonAlt on Twitter, has a following of 497,700 people, and has predicted that the crypto market is due for a significant sell-off.
DonAlt has examined Bitcoin’s chart and determined that it is showing signs of bearish behavior, particularly after dipping below its support level of $29,900.
“The technical indicators are showing a bearish trend. However, my intuition is still the same. We must accept the current state of things. Let’s refrain from engaging in the market until there is a positive change in the atmosphere.”
In a recent statement, DonAlt expressed concern that Bitcoin’s value could plummet if it falls below the crucial psychological threshold of $30,000. Unfortunately, this has now occurred.
DonAlt predicts that if Bitcoin’s value continues to stay below this level, it could drop as low as $20,000.
With Bitcoin currently trading below $30,000, DonAlt believes that the crypto has until the end of the week to recover its value.
DonAlt’s recent statement conveys a sense of uncertainty, as he wonders if the current situation will mark the end of Bitcoin’s success.
Bitcoin new prediction is out
According to Bloomberg Intelligence’s senior macro strategist, Mike McGlone, Bitcoin (BTC) is likely to hit $100,000, but it might experience a significant setback before then.
Speaking to crypto influencer Scott Melker, McGlone confirmed his long-term prediction but also warned that the cryptocurrency could fall below $20,000 and possibly reach a new low before it starts to rise again.
Check out our previous article in order to learn more details.
