A prominent cryptocurrency analyst known as DonAlt has predicted a significant rise in the value of bitcoin, potentially reaching $60,000 in the near future. Despite bitcoin trading slightly lower today at $36,989, the analyst, who boasts a substantial social media following of over half a million, suggests that current market conditions could lead to a “supersonic” rise.
The expected approval of a spot-based bitcoin ETF is highlighted as a key driver for this predicted increase. DonAlt points out that such regulatory developments have historically acted as strong bullish catalysts. He argues that delays in the ETF’s approval process could further fuel price gains by limiting selling pressure in the market.
In his analysis shared on X, DonAlt dismisses more pessimistic forecasts that suggest bitcoin could fall to $12,000. Instead, he believes that a push towards $100,000 is more plausible given the bullish sentiment pervading the market. According to him, there are “very few reasons to sell” and many traders are likely to hold their positions in anticipation of the ETF decision.
The trader also warned about the complexity of trading once the ETF is approved, suggesting that the current run-up could be one of the “easiest things to trade. He advised against betting against bitcoin ahead of such a clear catalyst, noting that even most bears are unwilling to take a bearish stance at this point.
DonAlt explained his own strategy, stating that he prefers to hold his investments rather than sell too early and potentially miss out on further gains. His bold prediction suggests that if market trends continue as expected, the value of bitcoin could escalate significantly within a month.
Investors and traders alike are closely watching the cryptocurrency market as this story unfolds, with many likely weighing their options based on these bullish predictions. The potential approval of a bitcoin ETF remains a focal point of interest and speculation within the crypto community.
