The popular pseudonymous analyst DonAlt predicts a significant correction for the bitcoin price. According to the analyst, there is a chance that the bitcoin price will fall back to the level of 45,000 to 50,000 dollars.
However, if we do get that pullback, he also expects a quick recovery due to the strong performance of the Spot Bitcoin ETFs.
Every setback is a gift
DonAlt believes that the new investors who have entered the ETFs are real investors. By this he means that it is mainly people who really buy assets for the long term. To a lesser extent, it is the moonboys who are normally in crypto.
In that respect, this cycle could turn out very differently and every correction can be a gift.
“I’m not worried and I would be happy for a pullback so I can buy some altcoins. That’s what I want to do; buy coins that have already risen significantly. Dogecoin is smiling at me…
The problem is we might not get a relapse and my luck will run out. But that’s just how it is.
Bitcoin price recovers
Bitcoin hit a new all-time high last night at around $69,200. We then fell $10,000 and the price has now recovered to $65,850. In that respect, it would not be a complete surprise if we made another attack on the all-time high today.
Ethereum seems to be gaining some momentum at the moment. The number two in the market is even up 1 percent over the past 24 hours, while bitcoin is expected to decline 2.23 percent.
Possibly the number two in the market can regain some ground on bitcoin, because lately bitcoin has really shown why it has been on the throne in the crypto world for more than 15 years.
Source: https://bitcoinmagazine.nl/nieuws/iedere-terugval-van-de-bitcoin-koers-is-een-cadeautje
