Bitcoin Analysts Predict Price Surge in 2022 Despite Previous Crash - COINTURK NEWS
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Bitcoin Analysts Predict Price Surge in 2022 Despite Previous Crash

3:03 pm (39 days ago)
October 21, 2023

Bitcoin (BTC) analyst DonAlt, who accurately predicted the major crash in 2022 and the bottoming out of the cryptocurrency’s price in November of that year, has made a surprising move by reentering the market with a long position in Bitcoin. Another cryptocurrency analyst, Credible Crypto, also expects a rise in Bitcoin but warns about altcoins.

DonAlt: Opened Long Position in Bitcoin

Anonymous cryptocurrency analyst DonAlt announced on his personal account on social media platform X that he opened a long position in Bitcoin at around $27,000. The analyst stated that if BTC falls to around $24,000, the expected rise will lose its validity.

Looking at the Bitcoin chart shared by the analyst, it appears that a significant surge is expected in the largest cryptocurrency.

Credible Crypto’s Alarming Warning for Altcoins

Another cryptocurrency analyst, Credible Crypto, is also optimistic about Bitcoin. The analyst stated on his personal X account that after Bitcoin gained slightly over 10% since the beginning of the week, an upward trend has started. He said:

I’ll keep it as simple as possible: just as $26,800 was the source of our last impulse, $28,600 is the source of our current impulse. Above that, we quickly moved MUCH higher. If the price falls below $28,600, the upward trend I mentioned will be invalidated, and a pullback will occur. Things can then turn around.

According to Credible Crypto, who expects a rise in Bitcoin, there will be no liquidity flow into the altcoin market in the short term. Instead, the analyst predicts that liquidity in the altcoin market will flow into the largest cryptocurrency:

A black hole is approaching. All the liquidity currently supporting valuable altcoins will soon be absorbed by BTC. Relief for altcoins will come with the breaking of new highs, and only then will they shine, but first, the largest cryptocurrency needs to make its move.

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