A top analyst who accurately called Bitcoin’s (BTC) 2022 price floor says the king crypto’s current cycle top may max out at $100,000.
In a new strategy session, pseudonymous analyst DonAlt tells his 58,600 YouTube subscribers that Bitcoin may soar more than 47% from the current value to print a cycle top if there is a near-term correction.
“If we go lower, it’s going to be easier to go a little bit higher. At that point, I think $80,000 to $100,000 would be realistic. If we don’t go lower and just go up I think there’s a chance like $70,000, $80,000 or $90,000 is the top instead of like $80,000, $90,000, $100,000. And then I think it’s going to be sh*t price action for a long time.
But anyway, at these price levels, you’re going to see altcoins go wild. They’ve already gone wild. It’s just you’re going see a market-wide altcoin kind of mania.”
The analyst believes one possible Bitcoin scenario is a correction to $50,000 before a move to new all-time highs, capping off the cycle.
“I think we’re pretty late into the cycle. And I think if we’re going to make a new high I think that’s going to be the last one. So if this nukes similar to what we did here where we had a high here [around March 4] and then rallied here [around March 11] before the nuke, I think if we’re going to make a new high… let’s say this nukes, goes to $50,000, kind of comes back, rallies, I think that is basically going to be the top before the cycle ends.”
Bitcoin is trading for $67,886 at time of writing, up 2.5% in the last 24 hours.
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