According to a crypto strategist who accurately predicted the 2022 Bitcoin bottom, BTC could be on the brink of sparking a parabolic surge.
During a recent strategy session, the pseudonymous analyst DonAlt, with a following of 66,600 subscribers on YouTube, suggests that Bitcoin’s current price action may resemble that of gold in 2024. Back then, gold struggled to break through the $2,100 resistance level for several weeks before experiencing a significant upward momentum.
The analyst believes that Bitcoin is currently consolidating below $110,000 to prepare for a breakout and a potential parabolic rally towards new all-time highs.
“Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong…
You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe.
But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.”
As of the current moment, gold is valued at $3,368 while Bitcoin is trading at $102,114.
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