Since the beginning of the year, the first cryptocurrency has grown in price by almost 40%. Now, says DonAlt, money from long-term investors is pouring into bitcoin. This is a positive sign and a signal for continued growth.
“Now the situation is still bearish on the long timeframes. But when this monthly candle closes, we will see a change in trend to bullish. Therefore, long-term investors will increase their investments in two weeks, and we will see a real rise in bitcoin,” the analyst writes.
According to DonAlt, if the monthly candle in the Bitcoin chart closes above $20,000, then the BTC rate may well continue to rise to $35,000.. Stronger resistance formed at $58,800. In the middle of the day on Monday, January 23, Bitcoin was trading at $22,900.. The analyst believes that the rate of the first cryptocurrency has already passed the bottom and now all indicators are in favor of growth.
Earlier, a similar forecast was made by another popular cryptocurrency analyst under the pseudonym Kaleo.. In his opinion, bitcoin could reach $30,000 as early as February of this year.