An analyst who has been seemingly unstoppable since calling Bitcoin’s bottom at $16,000 just issued a big update to fellow traders.
DonAlt tells his 469,000 Twitter followers that he is no longer looking to sell any BTC at his initial target of $35,000.
The trader says the global recognition that Bitcoin offers an alternative to the banking system is so new and powerful that he’s nowhere near ready to sell.
“Every time I think about taking profit I’m thinking about where I would put that profit. There is nothing I’d rather buy than BTC and alts right now, nothing is setup better for the current macro situation than our little bubble.
I was originally planning to sell some at $35k Don’t think I’ll do that anymore, I’ll just be a moon boy until I get a really really good reason not to be Until then I’ll ride this thing, no brakes.”
DonAlt believes bearish analysts who have remained laser focused on the macro economy will continue to look lost on the sidelines.
“Banks are down huge. You can whip out your stupid RSI and trendiness all you want, I’m not selling.
Can’t believe people told me not to buy $16,000 because of macro. We’re up almost 2x from there and macro is starting to shift. Probably gonna be told not to sell because of favorable macro conditions at the top too.”
As for how high BTC may go, the trader thinks it could climb to $100,000 this cycle.
Bitcoin is trading at $27,327 at time of publishing, down 0.8% in the last 24 hours.
Featured Image: Shutterstock/Sensvector/lassedesignen
Read the full article here