Bitcoin Price Target Raised to $100K – Analyst’s Bullish Update
Crypto Market Red As Bitcoin Price Drops
• The crypto market has seen a massive bullish ride recently after Bitcoin price hit a nine-month high of $26,000 area.
• However, that bullish momentum was short lived and the star cryptocurrency has now retreated around $24,000.
• Top analyst DonAlt gives out his updated BTC outlook with a target of $100,000 for Bitcoin.
DonAlt’s Bearish Stance Towards BTC In 2022
DonAlt is a well-known crypto analyst popularly known as DonAlt who had a bearish stance towards Bitcoin back in 2022.
DonAlt’s Updated BTC Outlook
Now, the analyst is of the opinion that Bitcoin will never face a pull back below $20,000 again and considers it as sustainable with a real narrative while the banks are losing their stance. He also talks about the failing banks in the US and abroad where he states that Bitcoin is not for a short term narrative. DonAlt gives out a list of macro economic events that has happened in the last 12 months and claims a $100,000 target for Bitcoin.
Macro Economic Events That Led To A $100K BTC Price Target
The macro economic events listed by DonAlt include Luna going tits up; 3AC perished; Celsius imploded; Blockfi exterminated; Voyager bit the dust; FTX exit scammed; Genesis was slain ; Bitzlato was taken from us ; US crypto banks got shut down ; Aggressive SEC intervention etc…
The crypto market had seen an impressive run over recent months but has since cooled off slightly with Bitcoin currently selling at around $24,641 at press time. However top analyst DonAlt believes that this could be just the start of another major bull run which could see prices reaching as high as $100,000 – although this remains to be seen!