Analyst Optimistic on Bitcoin’s Resilience Amid Talk of $52,000 Correction
DonAlt, a prominent analyst who navigated the 2023 crypto boom, remains optimistic about Bitcoin’s resilience, even if it falls to $52,000.
In a recent strategy session for his sizable YouTube following, he emphasized that a 30% correction from BTC’s peak shouldn’t cause alarm, considering its substantial 170% surge from October to March. He asserts that a retreat to $52,000 wouldn’t dent Bitcoin’s long-term strength significantly, citing robust indicators on high time frames. However, he acknowledges potential support at the ETF launch level of $42,000 but deems it less probable.
DonAlt suggests that Bitcoin would regain bullish momentum if it surpasses the $69,000 threshold, potentially targeting $80,000 to $85,000. Despite current vulnerability, his outlook remains cautiously optimistic. As of now, Bitcoin trades at $62,236, marking a 2.5% drop in the past day.
Clever Robot News Desk 30th April 2024
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