A top crypto trader and analyst predicts that Bitcoin’s (BTC) upcoming price action will reflect the chart of a successful altcoin poised for a big bang.
The trader, known in the market as Kaleo, advises his 388,400 Twitter followers to hoard BTC, as well as compares Bitcoin’s chart to Terra (LUNA), a smart contract platform that had an incredible rise last year.
“Keep the big picture in mind. Accumulate more Bitcoins.”
Remember the big picture.
Stack more #Bitcoin. pic.twitter.com/NF9Ct4U4rR
— KALEO (@CryptoKaleo) September 28, 2021
Terra’s local asset LUNA is up nearly 10800 percent last year and hit an all-time high of $43.82 earlier this month. According to CoinGecko, LUNA is trading at $37.80, up more than 10 percent at the time of writing.
Bitcoin is currently changing hands at $44,926, down more than 6% in the last two weeks. Kaleo thinks that the largest crypto asset by market cap will likely lose some more ground before continuing its bullish trend:
“If I had to make a prediction, I would say we’re going to see a quick drop to $37,000 and then come back in full force from there.
A drop to $37,000 isn’t scary. You know what’s really scary? Missing your target. By selling just above this level, trying to catch BTC a few extra percentage points lower and repurchase higher as a result. As a result, having less BTC than you started before BTC ran above $100,000…”
Kaleo is also optimistic about the smart contract platform Solana (SOL) and states that the performance monster platform is preparing for the rise.
$LEFT is getting ready for another vertical leg higher pic.twitter.com/wejqr4D9ZD
— KALEO (@CryptoKaleo) September 26, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.