A top trader envisions Bitcoin soaring to $100,000 after a period of consolidation, reminding us that every great journey has its challenges.

A trader from the 2023 crypto breakout believes Bitcoin (BTC) could reach $100,000.

In a new video update, pseudonymous analyst DonAlt tells his 62,400 YouTube subscribers that Bitcoin looks set to end its multi-month consolidation phase that started in March.

But DonAlt warns that Bitcoin will likely witness a deep corrective move after a strong breakout surge.

“My base case is right now we’re going to break out and it’s going to get smacked down… We’re going to go to $80,000, $90,000 maybe $100,000 if this breaks out, and then we’re going to go back down to $60,000… And then have $60,000 be a base and do all that boring consolidation stuff. 

But my base case is we’re going to break out.”

The trader says he’s not convinced that Bitcoin will see a sustained uptrend after its initial breakout.

“I think there’s a good chance that the breakout doesn’t really stick now. I think we’re going to then consolidate around $60,000 and then it might stick on the next attempt. It’s just on this attempt, I’m not entirely sure.”

But the trader notes that he may shift his stance depending…