A popular crypto analyst thinks Bitcoin (BTC) and the rest of the digital asset market won’t take off to new highs until at least next year.
The pseudonymous analyst Kaleo tells his 578,800 that a lot of crypto traders get “lost in the noise of $1,000 candles” and fail to see the bigger picture for BTC, altcoins and non-fungible tokens (NFTs).
“This is the roadmap I shared in July of 2022:
Base range between $16,000 – $30,000 breaking above HTF (high time frame) diagonal resistance around December (happened in early Jan)
Rapid, overhyped growth in early 2023 capping out in 50s ($50,000s) (still in progress, also I lean closer to high 40s [$40,000s])
No true alt season until Spring of 2024 (strong NFT rally comes w/ it)
No new BTC ATH (all-time high) until late 2024 / early 2025
Are you patient enough to watch the rest play out?”
Bitcoin is trading at $30,228 at time of writing. The top-ranked crypto asset by market cap is up more than 2% in the past 24 hours.
Kaleo says he thinks $40,000 will be a magnet for BTC.
“From there, I’ll switch more neutral/risk off through the end of 2023/early 2024. From there, foot on gas for alts and NFTs.”
The analyst also thinks top meme asset Dogecoin (DOGE) is showing strength against Bitcoin.
“Impressive strength from Dogecoin today.
Only a matter of time before we see DOGE / BTC ratio squeeze above resistance.”
Dogecoin is trading at $0.0932 at time of writing. The 8th-ranked crypto asset by market cap is up more than 1.5% in the past 24 hours.
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