The Trader Who Nailed Bitcoin’s Bottom Says The Banking Crisis Could Make The Crypto Market Bullish Here’s His Outlook

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A popular crypto analyst is optimistic that Bitcoin (BTC) and other crypto assets could resume an upward trajectory if the US banking crisis worsens.

Pseudonymous analyst DonAlt tells his 50,400 TechnicalRoundup YouTube channel subscribers that the US banking crisis offers a bullish narrative for the crypto market.

“We have a few stories that are actually bullish…especially the banking story where we have a bunch of small banks, but also a few big ones in America, struggling.

And that’s Bitcoin’s use case in a nutshell

Bitcoin is the poster child for all of this. So it should technically do well when the banks don’t. It’s that simple…

If the banks are eating shit in a way where the whole world and the economy of the business doesn’t collapse, you will most likely be successful in crypto.

According to the pseudonymous crypto analyst, Bitcoin would be trading lower than current levels were it not for the US banking crisis.

“It’s the narrative that kind of makes the bearish game harder. Because I think if we didn’t have that narrative, we would have been at $26,000-$27,000 already.

Bitcoin is trading at $29,086 at the time of writing.

DonAlt says he is currently out of the market but would turn bullish again if Bitcoin rises above a key resistance zone.

“If we get back above $30,000…Especially so quickly after testing it the first time, there’s a chance we’ll break it and then we might have some quick moves. And I’ll be more than happy to be optimistic again at this point.

But right now, I’m more than happy to be out of the market.

I

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