Top Crypto Strategist Says Bitcoin Needs One More Catalyst to Reach New AllTime Highs
A cryptocurrency expert who accurately predicted the 2022 Bitcoin low believes that BTC may require support from the stock market in order to reach new record highs. In a recent video update, anonymous analyst DonAlt, with a following of 59,900 on YouTube, suggests that Bitcoin is primed to break out of its consolidation phase and surge to unprecedented levels.
DonAlt notes that Bitcoin has been underperforming when compared to the stock market, failing to reflect positive developments in the crypto space in its price. However, the analyst remains optimistic about Bitcoin’s potential to gain momentum, especially after a weekly close above a crucial support level. DonAlt speculates that Bitcoin’s price movement could be influenced by the performance of the S&P 500.
“If the S&P continues its upward trend and Bitcoin closes around the current level of $65,500, I can foresee a significant rally that could even result in new record highs. However, this outcome is heavily dependent on the S&P’s performance,” DonAlt explains.
Bitcoin closed the previous week above $65,500 and is currently valued at $66,436. To stay updated on the latest developments, subscribe for email alerts and follow on platforms like Twitter, Facebook, and Telegram.
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