Bitcoin Blast to $57,000 Incoming – Then Real BTC Breakout Will Begin, Says Top Crypto Analyst https://cryptonewmedia.press/wp-content/uploads/2021/12/Bitcoin-Blast-to-57000-Incoming-–-Then-Real-BTC-Breakout.jpeg

Bitcoin Blast to $57,000 Incoming – Then Real BTC Breakout Will Begin, Says Top Crypto Analyst

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A top crypto analyst is confident that Bitcoin (BTC) will see new record highs even after the benchmark cryptocurrency plunged to nearly $46,000 earlier this month.

The pseudonymous trader known as Kaleo tells his 460,000 Twitter followers that BTC is now on its way to $57,000 after breaching the $50,000 level.

“Just like that, first breakout complete. Expecting a quick run-up to ~$57,000 followed by a slightly slower grind to $70,000 before the real breakout (high timeframe 2021 pennant) begins.”

Source: Kaleo/Twitter

Even amid the price correction that affected BTC and the broader crypto market, Kaleo predicted earlier this month that Bitcoin will hit over $100,000 this bull cycle.

“I’ve said it before and I’ll say it again – I still expect to see Bitcoin have a parabolic move to top out at $100,000+ this cycle.

I’ll gladly start scaling out around $150,000. I expect it to go higher, but I’m not concerned with nailing the top. Until then, just keep stacking.”

Image
Source: Kaleo/Twitter

The analyst also argues that he sees Bitcoin following the footsteps of the S&P 500 ETF Trust, which recently printed new all-time highs.

“Highest close ever for SPY. Let me put it to you plainly  – [the] same argument was made this summer when BTC / crypto lagged. It caught up. Same sh*t is gonna happen again.”

Kaleo says Bitcoin’s drop to below $50,000 as an opportunity for investors to ramp up their holdings.

At time of writing the leading digital asset is exchanging hands at $51,307.37.

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