We Are At These Levels Until February! – Cryptokoin.com

The recent acceleration of Bitcoin and the fact that it has seen levels that it has not seen in a long time has led many investors to question whether these levels are sustainable. For this reason, many investors follow some analysts, traders. In this article, we will share the expectations of the analyst Kaleo, who is known to be a Bitcoin whale, about the largest cryptocurrency. Here are the details…

Bitcoin whale awaits $30,000 for BTC

Bitcoin whale Kaleo said that Bitcoin could hit $30,000 for a while in February. The analyst made an analogy between the current price action and the movements in 2019. He said he saw Bitcoin forming “patterns” similar to those in 2019, when it rose from $3,000 to $14,000 within weeks. Additionally, he said that BTC will likely dominate the crypto markets and draw liquidity from altcoins.

Investment firm Morgan Stanley, on the other hand, attributed the recent rally to the liquidation of short-term Bitcoin futures. Because, it is known that many short selling positions were liquidated as a result of the sharp rise in Bitcoin. Therefore, as the firm reported, “BTC’s rally has been rapid and was driven by technical factors rather than a fundamental shift in the opinion of market participants.” In addition, the company used the following statements:

As a result, transaction volumes are low and institutional activity is likely to increase if BTC rises significantly.

There is a major event on the horizon that could affect BTC

Meanwhile, a development that is likely to affect the price of Bitcoin stands out. BTC, the largest cryptocurrency by market cap, boosted its gains over the weekend ahead of the New Year holiday and Spring Festival celebrations in Southeast Asia and rose to its highest level since August. cryptocoin.com The leading cryptocurrency surged over $23,000 on Saturday, up as much as 10 percent compared to the previous day, data showed. The coin hit a local high near $23,282, a level not seen in over five months. As of now, Bitcoin is trading at around $22,800, staying almost flat in the past day.

Ethereum, the second largest cryptocurrency, also recorded significant gains, hitting a local high of around $1,674. This is a level not seen since September last year when the highly anticipated Merge upgrade passed. Its total market capitalization has exceeded $1 trillion. The rally comes as Bitcoin has historically performed well at the start of the New Year holiday celebrated in much of Asia, often referred to as the Chinese New Year. According to Matrixport head of research, Markus Thielen, the New Year holiday is considered a good entry time for investors.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram and YouTube join our channel!

Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.

Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-3