DonAlt warns his 464,700 Twitter followers that conventional asset markets are hurting Bitcoin.
DonAlt believes Bitcoin will surge when conventional markets rise.
“BTC is being dragged by the traditional markets but refusing to make new lows while the S&P [stock index] is bleeding out.
The moment the traditional markets bounce, I’m expecting a massive outperforming green candle from BTC.”
Bitcoin is trading at $22,370, up little on the day.
DonAlt also updated his prognosis, stating his opinion remains even if Bitcoin was essentially flat yesterday and the stock market soared dramatically. Therefore, BTC’s poor response to the stock market rally is hardly “ideal.”
Altcoin Sherpa predicts additional Bitcoin price declines. The trader expects another sell-off before Bitcoin recovers.
“BTC: it’s possible we’re seeing a higher low being formed now, but I don’t really think so. I think that we’re going to see another leg down.
Note: I still think we go to $30,000 in the midterm.”
