Bitcoin Set to Rally to $60,000 Soon, Says Top Crypto Trader
A well-known trader who has been making accurate Bitcoin (BTC) predictions believes that the leading cryptocurrency could surge to $60,000 in the near future.
DonAlt, a pseudonymous analyst with over 500,000 followers on social media, suggests that BTC may experience rapid price increases in the coming weeks. He points to BTC’s chart, which he says looks ready to go “supersonic.”
At the time of writing, Bitcoin is trading at $37,033. DonAlt’s target of $60,000 indicates potential gains of approximately 60% in a short period.
ETF Approval Could Propel Bitcoin Higher
One factor that could drive Bitcoin’s price to new highs is the excitement surrounding the possible approval of a spot-based BTC exchange-traded fund (ETF). However, DonAlt warns that if a BTC ETF is approved, traders may use it as an opportunity to cash in their profits.
The analyst also notes that those waiting for a significant dip in Bitcoin’s price are unlikely to see it drop back to $12,000. Instead, he believes it is more probable for BTC to reach $100,000 than to revisit previous lows.
Hot Take: Strong Bullish Case for Bitcoin
Based on DonAlt’s analysis and market insights, there appears to be a strong bullish case for Bitcoin. With the potential approval of a BTC ETF and other tailwinds supporting its rally, it wouldn’t be surprising if the leading cryptocurrency hit $60,000 much sooner than anticipated.
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