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Analyst warns of collapse of Bitcoin: The gut feeling of a renowned expert causes unrest in the cryptocurrency industry
Bitcoin: Well-known analyst expresses concerns about the cryptocurrency A prominent analyst, Donalt, who has already correctly predicted the Bitcoin low in November 2022, now expresses concerns about the future development of cryptocurrency. In a tweet to his almost 500,000 followers, Donalt revealed his gut feeling that Bitcoin was about to collapse. Although he admits that he lacks current market observations and a current position, Donalt attributes his intuition to the sluggish performance of Bitcoin, the approach of the S&P 500 index to resistance and various other market factors. In a Technical Roundup video, Donalt further explained his pessimistic thesis. He believes that the introduction ...
Analyst warns of collapse of Bitcoin: The gut feeling of a renowned expert causes unrest in the cryptocurrency industry
Bitcoin: Well -known analyst expresses concerns about cryptocurrency
A prominent analyst, Donalt, who has already correctly predicted the Bitcoin low in November 2022, now expresses concerns about the future development of cryptocurrency. In a tweet to his almost 500,000 followers, Donalt revealed his gut feeling that Bitcoin was about to collapse. Although he admits that he lacks current market observations and a current position, Donalt attributes his intuition to the sluggish performance of Bitcoin, the approach of the S&P 500 index to resistance and various other market factors.
In a technical roundup video, Donalt further explained his pessimistic thesis. He believes that the introduction of Spot-Bitcoin-Exchange-Traded Fund (ETFs) through large Wall Street players such as Blackrock should actually lead to a significant price rally. However, Donalt is disappointed that the market reaction is not as strong as expected. This raises doubts about the possible effects of ETFs on the performance of Bitcoin.
In order to avoid greater correction, Donalt emphasizes the importance that Bitcoin maintains its level of support at $ 29,000. He considers this level to be crucial and declares that there is no immediate reason to worry, as long as Bitcoin remains at the final basis above this price level.
It is important to note that investments in risky assets such as Bitcoin, cryptocurrencies and digital assets are associated with inherent risks. Investors should carry out a thorough DUE diligence test before making investment decisions. It is also of crucial importance to understand and recognize the personal responsibility for possible losses that can arise from transfers and business.
Donalt’s concerns and his analysis of the current market factors offer an insight into the ongoing debate about the future of Bitcoin. While some investors remain optimistic, others agree with Donalt and express similar concerns. The development of cryptocurrency remains to be seen and investors should carefully consider the risks and opportunities before making their investment decisions.