Crypto Analyst Predicts Sharp Bitcoin Rally Ahead, Says Current Prices Are an ‘Opportunity’
Popular cryptocurrency analyst ‘Kaleo” has shared his belief that bitcoin’s price will rise after it stops fluctuating between $35,000 to $30,000 based on its price performance over the past year.
The anonymous analyst said that the Nasdaq index had influenced the bitcoin price last year. It rose sharply after tech grew rapidly. After surpassing its previous record high, bitcoin began to’significantly exceed tech’.
Kaleo observed that bitcoin’s chart appears bearish now, but he believes history will ‘rhyme.’ He predicts a sharp recovery in bitcoin prices, just as the July 2017 chart looked bearish but the price of the most popular cryptocurrency shot up shortly after.
Kaleo encouraged his followers to “keep stacking” and not to “waste this chance,” implying that now is the right time to buy BTC before its recovery.
The pseudo-anonymous crypto analyst explained last month why he believes Bitcoin will outperform tech stocks, and that the Bitcoin value will surpass $100,000 over the long term. CryptoGlobe reported that Troy Gayeski (co-chief investment officer, senior portfolio manager at SkyBridge Capital) believes a Bitcoin supply crisis is possible.
Gayeski stated that on-chain signals indicated that’strong holders’ have been accumulating bitcoin again and plan to keep it for longer periods. These holders are buying coins from speculators who bought bitcoins when it was at its highest price.