Renowned pseudonymous analyst DonAlt, known for his accurate Bitcoin predictions, is currently generating significant excitement as he forecasts a potential surge that could propel Bitcoin to $60,000.
DonAlt recently took to X to express an unyielding bullish sentiment, suggesting that Bitcoin’s chart is on the verge of going “supersonic.”
Factors Fueling Supersonic Blast
DonAlt, the analyst, thinks things will go well for Bitcoin, meanwhile, he has a few reasons for feeling this way, and one of the big reasons is the excitement surrounding the potential approval of a spot-based BTC exchange-traded fund (ETF).
Understanding the spot Bitcoin ETF game has been pretty straightforward lately. Bulls held their ground and didn’t want to sell before the ETF and before the bitcoin halving occurred reward. Frankly, even most of the bears weren’t foolish enough to sell when something so important was about to happen.
Further DonAlt emphasised that “If a spot Bitcoin ETF gets the green light, it might turn into a chance to sell.”
Now, after the ETF gets approved, things might get a bit tricky. It could be a “sell-the-news” moment, or maybe not. To be honest, I don’t know. Interestingly, the longer it takes for this ETF decision, the higher the price might go. Why? Because there’s not much reason for people to sell until this approval happens.
In a parallel perspective, prominent crypto trader Crypto Rover previously looked into the details of the “buy-the-rumor, sell-the-news” idea, explaining how two different groups of people might react when the ETF decision is finally announced.
Dismissing Bearish Sentiments
DonAlt dismisses lingering bearish sentiments, particularly those anticipating a Bitcoin retreat to $12,000. With conviction, he asserts, “People out here still talking about $12,000. Bro, BTC is more likely to go to $100,000 here than it is to go back to $12,000.”
As DonAlt’s projections create ripples in the crypto space, enthusiasts and investors grapple with the implications of a potential $60,000 surge, all while eagerly awaiting key developments, including the highly anticipated ETF decision.