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Bitcoin‘s (BTC) recent upward trend has reinvigorated the cryptocurrency market. Crypto analyst DonAlt, who accurately predicted Bitcoin’s bottom in 2022, claims that the leading cryptocurrency has the potential to reach new highs by the end of the year, igniting a strong rally.
Bitcoin Expected to Reach $36,000
Anonymous crypto analyst DonAlt shared his insights during a recent strategy session on YouTube, stating that there is a possibility for Bitcoin to experience a significant surge, surpassing the current resistance at $30,000. He said:
If Bitcoin breaks through this resistance level, which it has enough reasons to do so, the target level could be $36,000. However, a drop is also possible, but if the sentiment changes, we have enough reasons to believe that a rise is likely.
Investors may not find a good entry point at $30,000 as the surge could happen very quickly. Personally, I prefer to wait until I am certain before making a purchase.
In the worst-case scenario, we may see a reversal in the upward trend, and I anticipate a buying opportunity between $19,000 and $20,000.
“Bitcoin Looks Promising Now”
DonAlt also shared with his followers on social media platform X that BTC’s price movement, after months of a downward trend, is now looking promising. He stated, “For the first time in months, we have seen a constructive price movement. However, we need to rise soon; otherwise, there will be another drop.”
According to the latest data, Bitcoin is trading at $27,088, just above the $27,000 level, with a market capitalization of $527.8 billion, experiencing a 1.79% increase in the past 24 hours.
