Crypto strategist known by the pseudonym DonAlt, Bitcoin 
$68,287He warned about the risk of its value falling to $50,000. Years’ analyst DonAlt stated that if Bitcoin’s weekly close falls below 70,000, chain liquidations may begin for BTC.
Short Term Expectations
DonAlt states that Bitcoin’s recent rise is driven by investors looking to make quick profits in anticipation of a Trump victory. He argues that these investors are not out to acquire Bitcoin, they just think Trump will win and hope the cryptocurrency will rise.
The analyst warned that these positions will likely be liquidated if BTC cannot sustain its rally. He suggests that this situation could cause Bitcoin to drop below $60,000 or even to $50,000. DonAlt will be right, especially if the huge demand in the ETF channel reverses if Trump loses and massive sales begin.
“Many people have added positions by betting on Trump, and they could all be in jeopardy if the market falls. This is a dangerous position, especially considering the probability of Trump winning is less than 50%. “If the weekly close shows rejection or weakness, that would be a strong downward signal.”
Bitcoin is currently trading at 69,379, which is slightly below the critical $70,000 level stated by the analyst. This situation supports the analyst’s warning.
DonAlt emphasizes that it is unclear whether this activity in the Bitcoin market is sustainable and that investors should be careful.
Recommendations for Investors
Bitcoin’s future performance may depend on market dynamics and Trump’s election results. It is important for investors to follow market trends closely and not neglect risk management.
DonAlt’s warning shows that Bitcoin investors should be prepared for market fluctuations.
When investing in Bitcoin, it is recommended to be careful about the potential effects of sudden changes.
In conclusion, Bitcoin’s current situation poses both opportunities and risks for investors. It will be useful to closely monitor economic and political developments to determine the future direction of the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
