Trader Who Flawlessly Navigated Bitcoin’s Resurgence Issues Alert, Says BTC Price Target Has Dramatically Changed
An analyst who has been seemingly unstoppable since calling Bitcoin’s bottom at $16,000 just issued a big update to fellow traders.
DonAlt tells his 469,000 Twitter followers that he is no longer looking to sell any BTC at his initial target of $35,000.
The trader says the global recognition that Bitcoin offers an alternative to the banking system is so new and powerful that he’s nowhere near ready to sell.
“Every time I think about taking profit Im thinking about where I would put that profit. There is nothing Id rather buy than BTC and alts right now, nothing is setup better for the current macro situation than our little bubble.
I was originally planning to sell some at $35k Dont think Ill do that anymore, Ill just be a moon boy until I get a really really good reason not to be Until then Ill ride this thing, no brakes.”
DonAlt believes bearish analysts who have remained laser focused on the macro economy will continue to look lost on the sidelines.
“Banks are down huge. You can whip out your stupid RSI and trendiness all you want, Im not selling.
Cant believe people told me not to buy $16,000 because of macro. Were up almost 2x from there and macro is starting to shift. Probably gonna be told not to sell because of favorablemacro conditions at the top too.”
As for how high BTC may go, the trader thinks it could climb to $100,000 this cycle.
Bitcoin is trading at 27,327.52 at time of publishing, down 0.8% in the last 24 hours.
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This article was originally reported on The Daily Hodl.