The crypto enthusiast who accurately predicted the bottom of BTC in 2022 believes that the first cryptocurrency is at the beginning of a new bull cycle.
An analyst under the pseudonym DonAlt told his followers on social networks that many traders are too skeptical about bitcoin. Even after BTC broke the multi-month reversal pattern.
The crypto trader showed negative forecasts on various crypto platforms, indicating that traders are predominantly betting on the fall of bitcoin, supporting the thesis that the “rally of distrust” continues.
A distrust rally usually occurs at the beginning of any bullish cycle. The main feature is the caution of traders associated with the previous bearish trend. The analyst notes:
DonAlt made up map, which presents the worst and best scenarios for bitcoin. In both of them, the price of BTC should rise:
According to DonAlt, a breakout on the longer timeframe could push BTC towards $100,000:
Source: Cryptocurrency
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