DonAlt, one of the prominent figures in the cryptocurrency markets, is issuing warnings about the anticipated extended period of lackluster price movements for Bitcoin (BTC) following the crypto rally earlier this year. The analyst, addressing his 52,800 YouTube subscribers, emphasizes that Bitcoin has yet to make the desired moves, and even the launch of PayPal's dollar-backed stablecoin PYUSD is not a significant indicator. #DonAlt

Expected Market Momentum Yet to Be Captured

DonAlt asserts that the market is not behaving as desired, especially when it comes to Bitcoin. Notably, events such as PayPal's entry into the crypto market and the release of the stable cryptocurrency PYUSD are insufficient to rejuvenate Bitcoin's price. #PYUSD #PayPal

ETF Delay News and Anticipated Uptick in Activity

The crypto strategist highlights the ongoing absence of the anticipated momentum in Bitcoin's price. He notes that even news of ETF (Exchange Traded Fund) delays has limited impact on the price. In a period where intraday price movements are confined to small percentages like 1% or 2%, Bitcoin's current volatility is notably low.

Role of the Federal Reserve and Future Expectations

DonAlt suggests that one factor capable of restoring Bitcoin's volatility and bullish trend could be the Federal Reserve reversing its tight monetary policies. Similarly, he mentions that a response akin to the central bank's moves in 2020, where interest rates were nearly brought to zero in response to the Covid crisis, might be necessary.

Long-Term Expectations

The crypto analyst predicts that Bitcoin's fluctuating conditions could persist for the next six months. He believes the market is currently in a dull state, necessitating a significant force or factor to provide momentum. He indicates that significant movements could occur in the crypto market if governments respond with a Covid-like reaction.

Current Status and Assessment

At the time of writing, Bitcoin is valued at $29,248. This value appears to support DonAlt's analysis of lackluster price movements and the expected resurgence. As uncertainties about the future direction of the crypto market persist, investors and analysts continue to closely monitor market developments. #BTC #bitcoin $BTC