Altcoin
Analyst Reveals Bitcoin and Ethereum Price Targets, Says Upcoming Altcoin Opportunities Will Be ‘Insane’
A widely followed analyst believes the cryptocurrency market is poised to witness the next stage of its bull cycle.
Pseudonymous analyst Kaleo tells his 639,700 followers on social platform X that the real bull market hasn’t started yet.
Crypto Strategist Says Bitcoin (Bitcoin) is currently in the post-halving accumulation phase and is preparing to reach an upside target of $200,000.
“The silver lining of each major bull market has seen significant attrition from a post-halving percentage growth perspective, with each respective all-time high (ATH) shrinking by approximately 3.5x compared to the previous cycle. If this trend continues, this cycle’s ATH for BTC would hover between $150,000 and $200,000.
Source: Kaleo/X
At the time of writing, Bitcoin is trading at $70,016.
Looking at Ethereum (ET), Kaleo believes the leading smart contract platform will rise to around $12,000 this cycle.
“As entertaining as today’s news was, this graph is just heating up. Send it higher.”
At the time of writing, ETH is worth $3,774.
As for other crypto assets, Kaleo believes that massive capital inflows into Bitcoin and Ethereum will spark an altcoin mania.
“The opportunity that comes with THAT kind of money movement is going to be insane. Alts and DApps (decentralized applications) will go crazy. We will probably see a crypto-native DApp reach the mainstream market sooner or later. Retail hasn’t even shown up en masse yet.
Don’t let the blow shake you. We’re just warming up.”
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