A popular cryptocurrency trader and analyst has predicted the price of Bitcoin will hit $ 100,000 in the near future after seemingly pinpointing the cause of the recent correction that kept BTC below the $ 50,000 mark.
In a series of tweets, Kaleo’s pseudonymous analyst gong told its 76,000+ followers that the market correction was over and urged them to “buy more now” as bitcoin, altcoins and stocks rise.
Kaleo has predicted that the price of Bitcoin will double to exceed $ 100,000 in the next few months. The analyst posted a graph on Twitter indicating that an upward hike could push BTC into six-digit numbers by April.
The cryptocurrency trader’s forecast is based on Bitcoin’s price movements in 2017, when the cryptocurrency soared to an all-time high near $ 20,000 before the slump. According to the analyst, a breakout of the current Bitcoin range would occur after it crossed the $ 53,000 mark.
As reported by Daily Hodl, Kaleo is also bullish on two altcoins that he believes could rise in the near future. The first is the native token of the SushiSwap (SUHI) exchange, which he sees to increase to $ 30, as it follows in Uniswap’s footsteps.
Uniswap is the leading decentralized exchange, and their UNI token traded at $ 30 earlier this year before the crypto market correction dropped it back to $ 20.
The other altcoin Kaleo said was bullish was Enjins ENJ on the project’s involvement in the Gaming Non-Fungible Token (NFT) space, which has grown rapidly in recent weeks. While the space has grown, ENJ’s price has been “relatively quiet so far”.
The analyst predicted that the price of ENJ could stay in an accumulation zone between $ 0.7 and $ 0.8 for a few days before rising above $ 1. CryptoCompare data shows the token has risen 12% in the past 24 hours and is now trading at $ 0.89.
As reported by CryptoGlobe, the bullish BTC price predictions have risen. Popular Bitcoin bull and market analyst Max Keizer has argued that Bitcoin’s market cap could exceed $ 300 trillion in the future and has forecast that the flagship cryptocurrency could outperform the US dollar and become the world’s reserve currency.
Selected image via Unsplash.