Crypto Bear Market Over? 'Not-Too-Bullish' Analyst Sets Bitcoin Target Above $30K

In a recent YouTube analysis, the pseudonymous crypto strategist DonAlt — known for accurately predicting the 2022 crypto bottom — has revealed his new long position on Bitcoin, sharing his targets and insights on the current market scenario.

DonAlt suggests that the current Bitcoin price, hovering around $26,000, presents a potential buying opportunity.

"We’re at the point where you could make an argument for buying here (around $26,000)," he stated. "And if you’re wrong you get stopped out and you get to buy at $19,000."

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The analyst's comments come at a time when the crypto community is gearing up for the much-anticipated Benzinga's Future of Digital Assets conference on Nov. 14, where market trends and predictions will be a hot topic of discussion.

Elaborating on his decision to take a position, DonAlt mentioned, "The problem with kind of not doing anything, and the reason why I took a trade — I bought like a little bit, not too much, but a little bit of Bitcoin — is, basically, because I’m just guessing that I will not get an entry otherwise."

He has set his target above the $30,000 mark, though he remains cautiously optimistic, stating, "I’m not too bullish. I’m not too bearish."

The crypto strategist also highlighted potential risks, noting that if Bitcoin breaks down below $24,900, the market could see a significant downturn.

"The reason why I kind of think this is an interesting trade, in general, is, basically, because I think if this fails… if you break down here [below $24,900]… I think we’re going to start capitulating."

He further warned of a possible capitulation towards the $20,000 mark, setting an invalidation point around $25,000.

As the crypto market remains volatile, DonAlt's insights provide traders and investors with a perspective to consider, especially in the current uncertain landscape.

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