Crypto Strategist Predicts Bitcoin Could Ignite Parabolic Surge
A well-known crypto strategist who accurately predicted the 2022 Bitcoin bottom believes that BTC may be on the brink of a parabolic surge.
Comparing Bitcoin to Gold’s Price Action
During a recent strategy session, the pseudonymous analyst DonAlt shared with his 66,600 YouTube followers that Bitcoin’s current price action resembles that of gold in 2024. He noted that gold struggled to break past the $2,100 resistance level for several weeks before experiencing a significant upward movement.
DonAlt suggests that Bitcoin is currently consolidating below the $110,000 mark, potentially setting the stage for a breakout and a parabolic rally towards new all-time highs.
“Look at the $2,000-ish level [of gold]. This is the kind of asset we are now. If you expect anything else other than this, I think you’re just wrong…
You see that breakout level that got tested four times, and you [had] false breakouts… I mean [gold] didn’t move for the longest time, and then it just went up only forever, which is kind of nuts to observe.
But basically, I feel we’re that asset now, where you’re going to flirt with the same level like three or four times and people are going to lose all their money before it breaks out.”
As of the latest data, gold is valued at $3,368 while Bitcoin is currently trading at $102,114.
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