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Veteran Analyst Who Accurately Predicted XRP’s Rally Outlines Three Bitcoin Price Scenarios
DonAlt, an experienced investor and veteran of the cryptocurrency sector, accurately predicted that XRP would surge by 700% and reach $3.65 in 2024.
The pseudonymous analyst has now released updated forecasts for Bitcoin ($BTC).
He presented three different scenarios for $BTC and identified three separate price levels for each scenario.
Today, Bitcoin surpassed the $80,000 mark for the first time since January, and analysts are urging investors to focus on three levels that they believe will determine the direction of Bitcoin and the broader market.
$78,000 — Cautious Reversal Point
Bitcoin is already testing this level, and according to the investor’s analysis, this is where market psychology begins to shift. At this level, the market moves from fear to a cautiously bullish stance. Holding above $78,000 would be the first real signal of trend recovery.
$87,000 — Upside Momentum Zone
The analyst expects a transition into a parabolic growth phase if $BTC breaks through this level, which currently acts as a barrier. Above $87,000, cautious buying may give way to aggressive accumulation, and Bitcoin’s price action could become highly impulsive.
$70,000 — “Death Zone”
A drop below this critical support level could be viewed by investors as a “death zone” for $BTC. At this stage, a decline below $70,000 is considered highly dangerous and could trigger a sharp market sell-off.
While one analyst warned that Bitcoin should be prepared for all scenarios, another analyst, Plan C, took a more optimistic view.
He stated: “Once Bitcoin stabilizes above $80,000… many will start buying again, pushing the price closer to $90,000, followed by a sudden jump back toward $100,000.”
Finally, CryptoQuant analyst Darkfost noted that Bitcoin remains in a long-term correction phase, with the price trading below the 200-day exponential moving average (EMA) around $82,000.
He expects a move toward $87,000 due to short covering, arguing that a true trend reversal will likely require a weekly close above $93,500.
See also: "Bitcoin Rises, but Analyst Warns of Potential BTC Price Risks"
