New Moon Scenario For Bitcoin Is Unveiled

Bitcoin’s price has been seeing more corrections lately, but this is not stopping the optimistic predictions from popping up. Check out the latest reports about the price of Bitcoin below.

At the moment of writing this article, BTC is trading in the green and the king coin is priced just below $39k.

It’s been just revealed that an important crypto trader is unveiling a scenario where Bitcoin (BTC) regains its bullish momentum and skyrockets over 80% this year.

The pseudonymous analyst DonAlt says that Bitcoin is trading in a wide range in the weekly timeframe between $33,000 and $60,000.

According to DonAlt, the massive range is bringing two solid entry opportunities for BTC.

“There [are] two places where you can take a trade in this instance: one the range low ($33,000), which I did. And then two, and I’m going to take that trade if it presents itself, is breakdown into reclaim [of $33,000] into okay… mega moon it [to $60,000].”

The words above mean an upside potential of 81.82% for BTC.

The crypto strategist is bullish on the idea of temporarily losing $33,000 support. He also made sure to explain the reasons for which going below that key level is dangerous for BTC.

“Honestly, the last thing I’m gonna do is bid $28,000. It’s like bidding the failure of $6,000 in 2018. Why would you wanna do that? If we should lose the current range ($33,000-$60,000) I’d much rather buy once we reclaim the range low or much much lower.”

The strategists made sure to highlight to Bloomberg that as the adoption of Bitcoin and other digital assets increases, their price starts to correlate more and more with other macro assets such as crude oil, technology stocks, and the US dollar.

A correlation with traditional markets could ultimately make crypto-assets unsuitable for diversification, according to analysts.