A extensively adopted crypto analyst is predicting when Bitcoin (BTC) will seemingly hit six figures for the primary time in its historical past.
Pseudonymous analyst Kaleo tells his 592,400 Twitter followers that he believes Bitcoin will cross the $100,000 stage in late 2024 or in early 2025.
“When do you assume Bitcoin breaks above $100,000?
My guess is early 2025.
Wouldn’t be shocked to see late 2024. The sooner it occurs, the extra enjoyable now we have in 2025.”
His timing of Bitcoin hitting six figures places it quickly after Bitcoin’s subsequent halving occasion, which is predicted in April 2024.
The dealer can be maintaining a detailed watch on Bitcoin’s worth motion towards the efficiency of the Nasdaq 100 index (NDX).
In keeping with Kaleo, Bitcoin is breaking above a bearish downtrend towards the NDX, which previously has traditionally signaled the beginning of an enormous rally for the crypto king.
“Bitcoin vs. NDX. That is nonetheless one among my favourite chart comparisons to observe. BTC traditionally has had large rallies vs. tech when it has damaged above HTF (excessive time-frame) bearish downtrends like those proven beneath. That is the place you stack.”
Bitcoin is buying and selling for $30,676 at time of writing, up 1.3% over the last 24 hours.
Generated Picture: Midjourney