One widely respected analyst believes the cryptocurrency market is on the verge of witnessing the next phase of its bull cycle.
The pseudonymous analyst Kaleo told his 639,700 followers on social media platform X that the real bull market hasn’t even started yet.
A cryptocurrency strategist says Bitcoin (BTC) is currently in a post-halving accumulation phase as it prepares to rebound towards its upside target of up to $200,000.
“The bullish side of each major bull market has seen a significant decline in terms of growth rates since the halving, with each all-time high (ATH) movement down ~3.5x from the previous cycle. If this trend continues, BTC’s ATH cycle will reach between $150,000 – $200,000.”
As of this writing, Bitcoin is trading at $70,016.
Looking at Ethereum (ETH), Kaleo believes the leading smart contract platform will soar to around $12,000 this cycle.
“Today’s news was interesting, but this chart is just getting ready. Send it higher.”
As of this writing, ETH is worth $3,774.
As for other cryptocurrency assets, Kaleo believes that massive capital inflows into Bitcoin and Ethereum will spark altcoin mania.
“The opportunities that come with that type of money movement are crazy. Alts and DApps (decentralized applications) are going crazy. We will probably see cryptocurrency-based DApps enter the mainstream market at some point. Retail stores have yet to appear in large numbers.
Don’t let cutting shake you. “We’re just warming up.”
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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.
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