Bitcoin Price Drops to $24K Level

The crypto market had a massive bullish ride recently after Bitcoin price hit a nine-month high of $26,000 area. However, that bullish momentum was short lived as the star cryptocurrency has now retreated around $24,000. As of writing, Bitcoin is selling at $24,641 with a loss of 1.05% over the last 24hrs.

DonAlt Updates His BTC Outlook

A well-known crypto analyst popularly known as DonAlt claims that Bitcoin can now be considered as sustainable and has a real narrative while the banks are losing their stance. Back in 2022, DonAlt was one among the analysts who had a bearish stance towards Bitcoin.

DonAlt’s Target: BTC at $100K

DonAlt talks about the failing banks in the US and abroad where he states that Bitcoin is not for a short term narrative. The analyst gives out a list of macro economic events that has happened in the last 12 months and claims a $100,000 target for Bitcoin.

Immediate Resistance for BTC

At present Bitcoin’s immediate resistance lies near $24,800 and if the currency breaks down below $24,500 support then BTC would be further hit with more bearish movements.

Conclusion

Crypto analyst DonAlt believes that Bitcoin will never face pullback below $20k again and that it could reach up to around $100k based on current macroeconomic events happening worldwide. Meanwhile, immediate resistance for BTC lies near $24.8k while it is currently trading at around$24.6k with 1.05% loss over 24 hours.