Bitcoin

Bitcoin Blast to $57,000 Incoming – Then Real BTC Breakout Will Begin, Says Top Crypto Analyst

A high crypto analyst is assured that Bitcoin (BTC) will see new report highs even after the benchmark cryptocurrency plunged to practically $46,000 earlier this month.

The pseudonymous dealer often called Kaleo tells his 460,000 Twitter followers that BTC is now on its method to $57,000 after breaching the $50,000 degree.

“Just like that, first breakout complete. Expecting a quick run-up to ~$57,000 followed by a slightly slower grind to $70,000 before the real breakout (high timeframe 2021 pennant) begins.”

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Source: Kaleo/Twitter

Even amid the price correction that affected BTC and the broader crypto market, Kaleo predicted earlier this month that Bitcoin will hit over $100,000 this bull cycle.

“I’ve mentioned it earlier than and I’ll say it once more – I nonetheless count on to see Bitcoin have a parabolic transfer to high out at $100,000+ this cycle.

I’ll gladly begin scaling out round $150,000. I count on it to go larger, however I’m not involved with nailing the highest. Until then, simply maintain stacking.”

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Source: Kaleo/Twitter

The analyst additionally argues that he sees Bitcoin following the footsteps of the S&P 500 ETF Trust, which not too long ago printed new all-time highs.

“Highest close ever for SPY. Let me put it to you plainly  – [the] same argument was made this summer when BTC / crypto lagged. It caught up. Same sh*t is gonna happen again.”

Kaleo says Bitcoin’s drop to under $50,000 as a possibility for traders to ramp up their holdings.

At time of writing the main digital asset is exchanging arms at $51,307.37.

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Featured Image: Shutterstock/Anastasiia Bakai/S-Design1689

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