Bitcoin’s Fate: Top Trade Expert Unveils Grim Worst-Case Projection August 2023
The leading digital asset is no longer under the grip of Bitcoin (BTC) bulls, according to a prominent trader who successfully rode the cryptocurrency breakthrough earlier this year.
DonAlt, a fictitious analyst, tweets his 499,300 followers that he is now bearish on BTC.
The crypto expert claims that after losing $30,000 as support, BTC can correct down to $20,000.
“Turned from neutral to bearish on the large timeframes here. It’s officially a whatever market again, expecting chop, rug pulls and general shittiness at best until we make it back above $30,000. At worst, I’ll see you at $20,000.”
DonAlt believes that $27,000 may support Bitcoin, but he’d like to wait until BTC rises above $30,000.
“Still watching $30,000 for the first signs that bulls haven’t been neutered but the bulls keep disappointing. $27,000 is support but not good enough for me to blind bid. I’d rather just wait until we get some bull momentum back. As in nothing changed, still bearish.”
Even if Bitcoin sells for around $30,000, fellow analyst Credible Crypto is still optimistic about it. According to the analyst, Bitcoin has a pattern of shattering range support levels before sparking sharp rallies since it bottomed out last year.
“We’ve been repeating the exact same pattern with every single accumulation/consolidation structure since our bottom at $15,000. It’s almost time for the next impulse.”
