Analyst Issues $80,000 Bitcoin Price Warning as Crypto Markets Pull Back

A crypto strategist who covered Bitcoin’s 2023 breakthrough warns that BTC risks experiencing a significant correction if it fails to rise above $100,000.

Pseudonymous analyst DonAlt tells his 63,000 YouTube subscribers that Bitcoin is likely to recover if it falls back to $90,000.

However, the analyst warns that a correction now would put BTC in position to see further downward price action.

“I think if it falls back to $90,000 in some way, you’ll see some strength there… But like I said, I don’t think that would necessarily be good for near-term price action.

I think if you get to $89,000, after maybe $95,000 you can get to $94,000, and then you’ll probably go back down.”

The analyst notes that his Bitcoin outlook would be different if BTC initially rose above $100,000 before experiencing a significant retracement.

“What you basically want to see is this thing just continue. If you go back at $120,000 or whatever, it might crash to $90,000 in a flash and then I would say something different. Then I would say, “Hey, this is a really good area compared to everything else we have on the map.”

And then maybe it doesn’t just create a lower high, but actually goes…

Otherwise, I think the ($90,000) level will just be a hurdle before we push anywhere into the low $80,000s.”

At the time of writing, BTC is trading for $94,245.

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