Crypto Analyst's Insights on Bitcoin and Ethereum in 2023.
In a recent update, pseudonymous analyst DonAlt shared their views on the current state of Bitcoin and Ethereum in the crypto market. With Bitcoin making significant moves, and Ethereum facing challenges, let's break down the key points from the analyst's perspective.
Bitcoin's Bullish Stance:
- Bitcoin is currently trading above $34,000, signaling strong bullish momentum.
- DonAlt emphasizes that as long as BTC holds above $32,200, there's a compelling reason to be "giga bullish."
- The analyst believes there is no significant resistance for Bitcoin until it reaches $60,000.
Ethereum's Struggles:
- In contrast to Bitcoin, Ethereum is facing challenges and is expected to continue underperforming.
- DonAlt points to the ETH/BTC ratio, which has been on a sustained downtrend.
- The analyst would reconsider a bearish stance on Ethereum only if the ETH/BTC pair manages to recover a key price area, specifically going above 0.06 BTC ($2,096).
Current Stats:
- At the time of writing, Bitcoin (BTC) is trading at $34,957.
- Ethereum (ETH) is trading at 0.0542 BTC ($1,894), down approximately 25% since the beginning of
