The post Bitcoin Rally: Here’s When BTC Price Will Surge Above $40k appeared first on Coinpedia Fintech News
It appears that all the leading cryptocurrency experts are currently eyeing the $40000 target for BTC. The king currency is currently trading sideways in consolidation, so, it is quite possible that the predictions that have manifested recently may hold some ground.
Kaleo’s Target: Bitcoin At $40,000
Kaleo, a widely followed pseudonymous analyst, has taken to Twitter to share his insights with his loyal followers. According to him, Bitcoin is on the verge of a strong rally that is expected to endure until July, following a prolonged period of choppy price movements.
Also Read: Whales & Sharks Accumulate Stablecoins; Will Bitcoin & Ethereum Continue Choppy Trend?
What has caught the attention of market observers is Kaleo’s assertion that Bitcoin is in the process of reclaiming a crucial high timeframe (HTF) support level. After experiencing a temporary dip below this level, Bitcoin’s current price behavior suggests a recipe for an imminent and potentially violent spike in value.
Kaleo explains, “Reclaims of deviations below HTF support usually cause dramatic upside swings. At $27,700, I’m watching.”
Bitcoin’s Recipe for An Impressive Spike
Buoyed by this analysis, Kaleo confidently predicts that Bitcoin will not only surpass its current value of $27,300 but will soar past the $40,000 mark by July. If his projection materializes, it would represent a remarkable 46%+ increase in Bitcoin’s value within a relatively short timeframe. Kaleo confidently sums up his expectations, stating, “One last leg up.”
Ethereum’s Resilient Outlook
Kaleo also weighs in on the future prospects of Ethereum (ETH), the leading smart contract platform. He believes that Ethereum will waste no time in reclaiming the highly coveted $2,000 level, urging it to “Run it back to $2,000 with haste.” This assertion adds an additional layer of optimism to the crypto market, as Ethereum enthusiasts anticipate a swift recovery and renewed momentum for the platform. ETH is currently trading at $1,855, with a 2.1% surge in the past 24 hours.
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