A generally followed crypto analyst says Bitcoin (BTC) is about to make a huge outbreak for fresh all-time highlights.
In a new thread, pseudonymous crypto trader Kaleo tells His 704,300 followers on the social media platform X that Bitcoin will probably enter an upward trend and will reach $ 116,000 early next week after a withdrawal of the level of $ 110,000.
“Bitcoin: new highs of all time [Thursday]. “
The analyst too out That Bitcoin may no longer adhere to his four-year cycle, an idea that the flagship crypto-asset has a predictable pattern that is related to its halving events, when the rewards of BTC miners are cut in two, who take place every four years and tend to go up on price movements.
“I believe this is where we finally break out of the traditional four-year cycle that revolves around the Bitcoin-Halving. Longer higher. Supercycle.”
Bitcoin acts for $ 107,354 at the time of writing, a decrease of 2.2% in the last 24 hours.
Next, the analyst out That Ethereum (ETH) can repeat a similar 2020 pattern and soon enters an explosive uptrend.
“Many similarities on the graph with where we are now versus where we were in 2020. Spring from 2020 There was a large sale of the COVID crash that ETH sent under HTF (High Time Frame) support. As soon as that line was recovered, ETH was only for the next 20 months. Itself with a new great season?”
ETH was traded for $ 2,754 at the time of writing, a decrease of 3.6% in the day.
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Featured image: Shutterstock/Tithi Laadthong