It has been just reported that Bitcoin is set to roll on a $90k path soon. Check out the latest price prediction about the price of Bitcoin below.
New BTC price prediction is out
According to a crypto trader, who accurately predicted the market bottom for Bitcoin in 2022, the cryptocurrency is expected to reach a price point of $90,000.
The trader, known as DonAlt, revealed his strategy during a recent session on YouTube, where he has over 56,000 subscribers.
DonAlt predicts that if spot market Bitcoin exchange-traded funds (ETFs) are approved, BTC will witness a bullish scenario and go straight towards resistance at $60,000.
However, he also expects a corrective phase after reaching $60,000, which will be quick and aggressive. Despite this, he predicts that BTC will continue to rally and reach as high as $90,000.
“The positive interpretation [of the BTC ETF approvals]: we go to $60,000. I think in general that would get a bunch of people very hyped up. It’s an old resistance level that’s been tested twice before.
So I could see a lot of people be in the camp that, ‘Hey, we tested this a bunch of times before, we’re going to break out,’ and disrespect it and go into it with leverage… Bitcoin would be at that point quite far extended. So I could see that be a nice pullback area.
If you go straight up, I think $60,000 would be a really good resistance… I think that pullback would be quite aggressive, quite quick and one that you absolutely should be buying…
If we hit $60,000, any pullback that you get should be a buy because at that point, we have tested $60,000 three times. I think then on the next test it wouldn’t hold and then you would go to $70,000, $80,000 [or] $90,000.”
In a bearish scenario, DonAlt predicts that Bitcoin will plunge to its high time frame support level of approximately $35,000 in the coming months.