A prominent crypto strategist and trader predicts that Bitcoin is about to enter a parabolic second phase of the bull market and that something similar could be in store for Ethereum.
Widely followed crypto analyst Kaleo tells his 338,900 followers that the second chapter of Bitcoin’s bull run will push BTC well above six figures.
Kaleo’s prediction of Bitcoin’s parabolic rise to $200,000 follows the script of BTC’s 2017 bull market where the leading cryptocurrency rose from just $2,000 to $20,000 in a span of five months.
Something like this.”
Kaleo’s prediction comes as Bitcoin abruptly rallied from a low of $29,360 to a high of $40,499 in less than seven days. Although the leading crypto asset has managed to put together six consecutive green candles on the daily chart, Kaleo issues a warning to traders who are planning to use leverage to catch up.
“I’m sharing this because I have a feeling there are a bunch of late bulls that have extreme FOMO (fear of missing out) atm (at the moment) and are trying to overleverage to compensate. Just be patient and continue to stack. BTC is going to $100,000+ either way. Don’t let greed knock you down right before it happens.”
Looking at Ethereum (ETH), the crypto trader believes the leading smart contract platform is now poised to restart its bullish trend.
“Ethereum/ETH The bottom is in.”
Last week, when Ethereum was trading at $1,870, Kaleo said the leading smart contract platform could be mirroring its 2017 price action when ETH meteorically rose from $200 to its 2018 high of $1,440. According to Kaleo, he sees Ethereum igniting a similar rally en route to a new all-time high of $18,000 by July 2022.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Sylverarts Vectors