Renowned for his accurate crypto predictions, analyst DonAlt disclosed his conditions for resuming trading on Bitcoin (BTC) and altcoins amidst the market downturn, advising investors to stay patient until his expectations are met. The analyst also shared his thoughts on Ripple’s XRP and Litecoin (LTC).
Awaits Bitcoin Surpassing $27,500
The anonymous crypto analyst DonAlt, in his latest market commentary video on the TechnicalRoundup YouTube channel, stated that he is waiting for Bitcoin to rise above $27,500 to resume trading on the leading cryptocurrency and altcoins.
The analyst said, “I want to see a bit of strength in the market to trade right now. If I see Bitcoin trading above $27,500, I would start trading BTC again. And of course, I would start trading altcoins as well. But nothing else in the market will excite me and I won’t trade if Bitcoin keeps accumulating at bottom levels like it is now.”
SEC Warning for XRP
DonAlt also mentioned that the future price movement of XRP would be determined by Bitcoin’s performance and the outcome of the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple. He noted:
Even if XRP wins the case, if Bitcoin looks like it’s on the edge of a cliff, there’s a good chance for the candle on the XRP chart to essentially look like this (going beyond the current resistance level at $0.55 without falling below the same resistance level) and then come back here. Of course, this applies if they win the case. If Ripple fails to win and loses the case, XRP will go straight down. And if Bitcoin also falls, the decline in XRP price will be much more severe.
Quickly looking at Litecoin, DonAlt said, “I trade Litecoin but despite high volatility, it has performed better than almost all other altcoins and is very close to its halving. So I’m not interested in it right now.”
