DonAlt is a pseudonymous crypto trader and analyst who has been making waves in the crypto space since he bought Bitcoin (BTC) at its lowest point last year. In a new video to his 47,500 YouTube subscribers, DonAlt expressed bullish sentiment on a top-20 altcoin by market cap, Litecoin (LTC).
DonAlt believes that if Litecoin closes above $100, it could rally up to $220. He noted that the weekly timeframe for the LTC/USD pair “just looks good” and is rising linearly. He also expects Litecoin to outperform Ethereum (ETH) in the short-term and after the rally stalls, he will convert his LTC into ETH.
For Bitcoin, DonAlt is targeting the flagship crypto asset to hit $32,000 before he takes any profits. He noted that his thesis on Bitcoin has been spot on since the bottom and he is not willing to take any profits early.
Crypto analysts often express bullish sentiment on certain altcoins, but DonAlt’s outlook on Bitcoin and Litecoin is particularly noteworthy. He has been accurate with his predictions in the past and his bullish sentiment on Litecoin could be a sign that the altcoin is ready for a massive rally.
Crypto traders have also been closely watching Bitcoin’s price action. The leading cryptocurrency has been on an impressive bull run since the start of 2021 and is currently trading near its all-time high of $40,000. Analysts are predicting that Bitcoin could hit $50,000 in the near future and some believe that the leading cryptocurrency could even reach $100,000 by the end of the year.
However, DonAlt’s outlook on Bitcoin is slightly more conservative. He believes that the flagship cryptocurrency could reach $32,000 before he takes any profits. This could indicate that he is expecting a more gradual increase in Bitcoin’s price over the coming months.
DonAlt’s outlook on Litecoin and Bitcoin is certainly worth paying attention to, as his predictions have been accurate in the past. He is one of the few crypto analysts who has called a breakout in the crypto market in 2023, so his outlook on the leading cryptocurrencies could be a sign that a major rally is coming.
It remains to be seen whether DonAlt’s predictions will come true, but his bullish outlook on Litecoin and Bitcoin is certainly worth taking into consideration. Crypto traders should keep a close eye on the price action of both cryptocurrencies to see if DonAlt’s predictions will come true.
