Renowned crypto trader and analyst KALEO recently took to Twitter to share his insights on the future price of Bitcoin (BTC). Expressing his frustration, KALEO highlighted the persistence of some individuals who believe BTC will dip below $20k before surging to $40k. As a seasoned expert in the field, KALEO’s opinion holds weight and is worth considering for those invested in the cryptocurrency market.
The analyst maintains a firm conviction that BTC is mirroring the actions of the crypto king in 2019. BTC has demonstrated an upward trajectory reminiscent of the period above by surpassing the high-timeframe logarithmic resistance.
Furthermore, it is worth noting that BTC finds itself in a comparable phase of its halving cycle as it did in 2019. Numerous crypto experts have weighed in on this matter, and while there may be dissenting voices, a significant number concur with the analyst’s viewpoint.
According to CoinMarketCap, the prevailing cryptocurrency is among the many digital currencies experiencing a decline in value today. BTC is presently exchanging at $27,689.97, following a 1.98% drop in price within the last 24 hours. Despite reaching a peak of $28,803.34 during the same period, BTC has managed to maintain a 12% increase over the past seven days.
The 24-hour trading volume of BTC has taken a dip, landing in the red zone at $31,969,117,662, marking a decline of over 3% since yesterday. As for its market cap, BTC currently stands at $31,969,117,662.
disclaimer
