The cryptocurrency market is waiting with bated breath for the spot Ethereum ETF decision from the SEC. Experts say that the signals indicate that the decision will be approved. Amid these developments, Ethereum is moving in the green zone, while Bitcoin and most altcoins are moving in the red zone. However, a cryptocurrency analyst with a large following says that the crypto market is on the verge of witnessing the next leg of the bull cycle. In this context, the analyst shares his latest predictions for BTC and ETH.
The analyst set the target for BTC: Between 150 and 200 thousand dollars!
cryptokoin.comAs you can follow from , excitement is at its peak in the market. Investors and traders are trying to figure out the effects of the SEC’s decision. Meanwhile, there will be an end to the Ethereum ETF hype. However, some analysts predict that the future of the market is bright. Moreover, the popular analyst with the pseudonym Kaleo says that the real bull market has not started yet. According to the analyst, BTC is currently preparing to rise towards a target as high as $200,000. In this context, the analyst says that BTC is now in the post-bull accumulation phase. Kaleo explains its evaluations with the following statements:
The upside of every major bull market has seen significant attrition from a post-halving percentage growth perspective, with each all-time high (ATH) move down ~3.5x from the previous cycle. If this trend continues, the ATH for BTC this cycle will fall somewhere between $150,000 – $200,000.
Meanwhile, at the time of writing, BTC was trading at $67,500, losing 3.3% on a daily basis. Thus, the leading cryptocurrency reduced its weekly gain to 3.8%.
Explosion forecast for the leading altcoin: 12 thousand dollars!
Kaleo is also looking at leading altcoin Ethereum (ETH). The analyst predicts that Ethereum will rise to around $12,000 this cycle. In this regard, the analyst said, “As entertaining as today’s news is, this chart is just warming up. Send it higher.” says.
Meanwhile, ETH was trading with slight gains at $3,745 on its daily chart at the time of writing. Additionally, Ethereum gained over 27% on its weekly chart.
“We’re just getting warmed up!”
As for other crypto assets, Kaleo thinks large capital inflows into Bitcoin and Ethereum will trigger an altcoin craze. In this regard, the analyst makes the following statement:
The opportunity that comes with this kind of money movement is going to be crazy. Alts and DApps (decentralized applications) will go crazy. We will likely see a crypto-specific DApp enter the mainstream market at some point. The individual has not even emerged en masse yet. Don’t let the disruption shake you. We’re just warming up.
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