- BTC might trade lower in the short term
- BTC Price at the time of writing – $18,342.42
- Bitcoin has shown signs of resilience versus the SPX
DonAlt made a new prediction about the price of Bitcoin today on Twitter and YouTube, where he has 469,000 followers and subscribers to the TechnicalRoundup YouTube channel.
DonAlt (@CryptoDonAlt) stated in the video below that he is always comfortable buying below $20,000 and is buying now around the $19,000 level.
He does not rule out the possibility of Bitcoin trading lower in the near future; in that case, he will buy more and add to his spot position, but he warns against using leverage in light of the CPI data that will be released on Thursday.
DonAlt’s Bitcoin Price Prediction – Crypto Twitter
Each week, DonAlt and another well-known trader, @CryptoCred, who has 501,000 Twitter followers, stream live on the TechnicalRoundup channel.
DonAlt’s reasoning is that the markets have been so battered and beaten down, as shared by TraderSZ and CryptoISO, that a move to the upside is more likely at the present time. Even if only to squeeze offside shorts during a bear market rally within the macro downtrend over the long term.
As a better strategy than FOMO-ing into green candles and the $100,000+ price targets advocated by the most vocal Bitcoin bulls like Michael Saylor, his advice is to buy the Bitcoin dip now when the market is depressing.
DonAlt also said in a tweet that his “gut feeling for the traditional markets,” such as the S&P 500, is negative, but that crypto would eventually begin to decouple and rise.
DonAlt is hopeful that the correlation between Bitcoin and stocks will end, even though Bitcoin has shown signs of resilience in comparison to the SPX over the past few days.
While this has only been a sign of cryptocurrency lagging in 2022, Bitcoin has shown signs of resilience in comparison to the SPX.
Due to his large following and the fact that he accurately warned traders of the approaching bear market around the November 2021 top, DonAlt’s latest Bitcoin price prediction is notable.
DonAlt sent out a tweet that read something along the lines of seeing you guys in a year when Bitcoin printed an SFP (swing failure pattern) at the previous high of $65,000.
DonAlt advised against opening a position as the Bitcoin price began its nearly one-year-long correction, remaining mostly cash up until this point. He also had bad things to say about Do Kwon and Terra LUNA long before it crashed in May 2022.
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Cryptocurrency Price Changes
The price of Bitcoin is currently testing the $19,200 mark and has increased by almost 1 percent in the last 24 hours. It quickly recovered from two minor drops earlier today when PPI data and FOMC minutes were released.
CryptoISO, who has 115,000 followers, believes that Bitcoin will rally tomorrow if the CPI shows anything positive.
Tamadoge (TAMA), one of the altcoins we’ve been keeping a close eye on, has surged 29% on the OKX exchange in the last day.
Terra Classic is trending in response to recent news that Binance has depleted its supply by almost 3 billion LUNC. Additionally, the IMPT token presale is getting close to the $4 million mark.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/10/17/donalt-crypto-trader-posts-bitcoin-price-prediction/