A cryptocurrency expert who predicted the fall of bitcoin believes that the first cryptocurrency will reach $ 100,000 in 2023

A crypto enthusiast who accurately predicted the «bottom of BTC» in 2022 believes that the first cryptocurrency is at the initial stage of a new bull cycle.

The analyst, who goes by the pseudonym DonAlt, told his followers on social media that many traders are too skeptical about bitcoin. Even after BTC broke through a multi-month reversal pattern.

The crypto trader showed negative forecasts on various crypto platforms, which indicate that traders are mostly betting on a Bitcoin drop, supporting the thesis that a «rally of distrust» is underway.

a «rally of distrust» usually occurs at the beginning of any bull cycle. The main feature is traders' caution related to the previous bearish trend. The analyst notes:

«Bitcoin has just broken through a nine-month consolidation. And what, it attracted new sources of funding? … This looks like the height of stupidity.»

DonAlt has drawn up a map showing the worst-case and best-case scenarios for bitcoin. In both of them, the price of BTC is expected to rise:

«The worst-case scenario is red. The best case scenario is green.»

According to DonAlt, a breakout on a longer timeframe could push BTC to $ 100,000:

«A greedy entry is now. Not so greedy entry is $ 25,606. Goal #1 is $ 36,000. Goal #2 is $ 60,000. Goal #3 is $ 100,000. The price at which you need to close the position is $ 23,000.»