Kaleo, an analyst and cryptocurrency whale, predicts that Bitcoin and the stock market will move parabolic together before they explode. In a discussion with Trend Spider’s Jake Wujastyk, Kaleo lays out his “strategy” as he looks at the crypto markets. cryptocoin.com We share the details as…
Kaleo shared his thoughts on Bitcoin and the markets
According to Kaleo, the digital asset space is going through a market cycle similar to that experienced by tech stocks in the late 1990s, and he doesn’t think Bitcoin could get much lower than current prices. The analyst says his entire strategy basically plays on the “tech bubble 2.0” narrative, and crypto fits that narrative as well. He thinks that the market in cryptocurrencies and especially technology-focused stocks could experience the same boom seen around March 1999-2000, and uses the following statements:
In fact, I think cryptocurrencies still outperform technology stocks. You know; Including Bitcoin and Ethereum. You can scroll further down the list. So, from a short-term perspective right now… I don’t think we’re going to go much lower than where we’re going anyway.
Rather than trying to look for price action every minute, Kaleo says he has made a longer-term forecast that places Bitcoin up to 330 percent higher than current prices in a matter of months.
I don’t sit down and stress about every micro-movement. I’m trying to focus more on macro price targets and I still think that in the next six months, BTC could go to $150,000 – $250,000. Looking at a capitulation wick maybe BTC touches $50,000. For example, if it touches $50,000, all that can be seen, I think, is more opportunity.
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