A closely followed crypto analyst is predicting new bear market lows for Bitcoin (BTC) as the equities markets struggle to generate any bullish momentum.
Pseudonymous analyst DonAlt says that it makes sense for Bitcoin to be consolidating at current levels as he says the bull market high of 2017 has been providing support for the leading cryptocurrency.
However, DonAlt warns that he now sees Bitcoin breaching support between $18,000 to $20,000 and recording a new cycle low.
“With these kind of ranges, what often happens is you get an undershoot of the range ($22,000 to $18,000) and then you come back up and then you trade up. That seems more and more likely to me… I think there’s a good chance that this range breaks