Kaleo Shares His Prediction for Bitcoin for Coming Months
A prominent cryptocurrency trader and analyst known as Kaleo, is sharing his prediction for what is in store for Bitcoin (BTC) in the coming months.
The pseudonymous analyst is comparing Bitcoin’s chart from July of 2020 and today for similarities.
Kaleo shares to his 332K followers on Twitter that this time last year, BTC followed closely the tech shares pattern and ignited a rally alongside the New York-based stock exchange Nasdaq. This time around, he’s trying to see if history will repeat itself.
“Just a reminder that one year ago everyone thought BTC looked terrible also. The sane thing to do was to take profit before it crashed back down below $6,000 even though tech was running wild.It didn’t take long for the narrative to change.”
Just a reminder that one year ago everyone thought BTC looked terrible also. The sane thing to do was to take profit before it crashed back down below $6K even though tech was running wild.
The strategist also shares with his followers a chart with his projected July BTC price action overlaid. According to the Kaleo’s chart, Bitcoin might trade sideways until the end of July, and then soar and hit $48,000 by August.
“This isn’t to say that history mirrors itself perfectly, but it often rhymes.”
