Next Bitcoin Bull Prediction Is Out

There are a lot of optimistic crypto predictions these days, and below, you can check out the latest one.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $22,346.

A closely followed crypto analyst who nailed the 2022 bottom for Bitcoin (BTC) is predicting when the king crypto could possibly turn a corner and rally.

The analyst, pseudonymously known as DonAlt said recently that the legacy asset markets are having a bearish effect on Bitcoin.

According to DonAlt, Bitcoin could rally once the traditional markets turn bullish.

“BTC is being dragged by the traditional markets but refusing to make new lows while the S&P [stock index] is bleeding out.”

He continued and said this:

“The moment the traditional markets bounce, I’m expecting a massive outperforming green candle from BTC.”

Bloomberg Intelligence senior macro strategist Mike McGlone says one catalyst could drive Bitcoin (BTC) to the downside.

In a new crypto analysis, McGlone says if the Federal Reserve continues to raise interest rates. It does this to lower inflation despite the risk of a recession, it could put downward pressure on risk assets like Bitcoin.

“Fed tightening despite the risk of recession could be a primary headwind for most risk assets, notably cryptos. Buy-and-hold investors may warrant some protective insurance for the potential that the bear market isn’t over.”

McGlone also questions whether crypto and equities could dip lower than they have during the bear markets of 2022.

“What If Crypto, Equity Haven’t Yet Seen Their Lows? Crypto and equity prices have bounced, which may leave them vulnerable to resuming 2022 downward trajectories. The stock market can be one of the world’s most powerful forces when it declines, and Fed tightening amid elevated recession risks are solid headwinds.”