A popular crypto analyst who is closely followed believes that Bitcoin (BTC) can now largely surpass Ethereum (ETH).
Known in the crypto markets as Kaleo, the analyst shared an ETH/BTC chart with 562,700 Twitter followers. In contrast, the analyst claims that ETH will follow BTC for gains, saying that the Ethereum/Bitcoin pair (ETH/BTC) is currently trading below a diagonal trendline. did.
“ETH/BTC has finally dropped below the high timeframe support line we are following. Remember, this chart only shows the strength of ETH relative to BTC, so expect to see BTC start to outpace it a little faster over the next few weeks.”
Generally, a bearish ETH/BTC chart indicates that Bitcoin will rise in value faster than Ethereum and the overall altcoin market.
In addition to these, the analyst specifically examined Bitcoin (BTC) itself. Accordingly, Kaleo thinks that BTC can likely move towards the $30,000 price level after it manages to bounce off the support around $21,000.
“High timeframe support remained strong. SPX [S&P 500 endeksi] it is currently at 4,000 support and I see it could still rise to 4300 in the coming weeks. $30,000 is a magnet.”
Koinfinans.com As we reported, in the short term, Kaleo says that Bitcoin price will likely gain more momentum if it surpasses the $22,400 resistance.
“CPI came in slightly higher than expected and the market is basically flat. SPX / NDX [Nasdaq-100 Endeksi]After some initial volatility, Bitcoin looks set to rise some more and Bitcoin is on the verge of reclaiming a significant level it lost last Thursday. $30,000 is still a magnet.”
You can follow the current price action here.