Crypto Analyst on Bitcoin: ‘$100,000+ Is Inevitable’

Recently, popular pseudo-anonymous crypto analyst “KALEO” (@CryptoKaleo on Twitter) explained why he expects Bitcoin to outperform tech stocks and the Bitcoin price to go over $100K in the long term.

On June 17, KALEO told his 321K+ followers on Twitter that he expected to see in H2 2021 the Bitcoin price to go over $100K, the Ethereum price to fo above $10K, more institutional adoption, and more FUD.

As for 2022–2023, he said that he expected to se major regulation against crypto, the Bitcoin price to fall to below $50K, the Ethereum price to drop below $1K, and for other cryptoassets to once again suffer heavy losses.

Then, on June 20, KALEO took to Twitter again to tell BTC holders to be a little bit patient and not to panic-sell:

“I’ll repeat what I’ve been saying – you can attempt scalp trading in this range, there are some traders killing it, but 95% of you will chop yourselves to negative PnLs in the process. Or you can buy here, hold, be patient for a bit and thank yourself later. Bitcoin isn’t dead.

“That’s why I literally give zero sh*ts when we get these little dips. $100K+ is inevitable. These LTF moves are just distractions to make you forget the big picture.“

He then went on to say:

“Being HTF bearish here doesn’t make sense. The tech market has recovered from its spring depression back to new all time highs and is on the verge of exploding into price discovery. Why should we expect #Bitcoin to decouple and continue lower?

“Money is continuing to be printed at an unprecedented rate. Inflation isn’t going anywhere until the Fed decides to actually do something and raise rates. In my opinion, there’s no way that happens in the first year of Biden’s presidency. Terrible optics. When it’ll happen is When they realize the market is bubbling out of control (aka tech bubble 2.0 narrative). Bitcoin will catch up to tech, and once again will outpace it at the peak of the madness.“

DISCLAIMER

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

IMAGE CREDIT

Photo by “petre_barlea” via Pixabay

Source: Read Full Article