Huge Rally In Store For Bitcoin, Important Analyst Says

It looks like the optimistic reports about Bitcoin do not cease to flow into the crypto space. Check out the latest reports about the matter below.

An analyst who has gained a significant following for providing timely Bitcoin (BTC) predictions, believes that the cryptocurrency is preparing for another upward movement.

Going by the name DonAlt, the pseudonymous analyst has shared with his 508,100 followers on the social media platform X that Bitcoin appears to be very bullish after staying above $34,000 last week.

DonAlt also stated that although BTC may experience a period of sideways trading, he is prepared to hold onto his Bitcoin holdings for the long term, as he foresees more rallies for the world’s leading cryptocurrency.

“Considering this could’ve turned into a false breakout, this actually looks surprisingly good.

Wouldn’t be surprised if we just chopped upwards for a while before full sending it. Generally think if you get a dip towards $32,000-$33,000, you can call yourself very, very lucky…”

He continued and stated the following:

“BTC is such a braindead play this time around I’ll literally just ignore all else until I think the BTC top is close/in.

I wanna sell my BTC to boomers who don’t even know what the Internet is. After that happens I’m down to have a conversation about YOLOing (you only live once) alts”

According to a top trader, Bitcoin’s high time frame resistance won’t come until it reaches $60,000. Currently, BTC is trading at $35,050.

The trader believes that his positive outlook on Bitcoin suggests that it will likely perform better than Ethereum (ETH) for the foreseeable future.

DonAlt shared an inverted chart of ETH/BTC, which shows that the pair has broken support at 0.056 BTC as reported by the online publication the Daily Hodl.

Stay tuned for more news from the crypto space.