An important crypto trader addressed the price of Bitcoin these days.
He predicts that BTC will soon be seeing an exponential surge in value within a 24-hour timeframe. In a new tweet, the analyst known as Kaleo said that it’s just a matter of time before the king coin prints a massive $10k candle.
I have a feeling $BTC will see its first green $10K daily candle soon.
— K A L E O (@CryptoKaleo) April 2, 2021
Someone commented: “$Bulba has just been released yesterday, 60k market cap! Initial listing pump and dump over, massive opportunity to get into the newest meme coin early. These coins pass 1 million market cap with ease; that’s a 20x from here. 10 million market cap is the target short term. #DOGE.”
Long-term expectations for Bitcoin
His bullish expectations come as he reveals his long-term price target for the king coin.
According to him, Bitcoin’s current price action reminds him of the sideways consolidation before Bitcoin erupted above $20,000 in December 2020.
“Breakout above $20,000 to a new all-time high vs. where we are now. If you aren’t taking advantage of longing the **** out of this low volatility, you’re not going to make it.”
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $57,953.13.
According to the online publication the Daily Hodl, on-chain analyst Willy Woo believes that Bitcoin will go far beyond $200,000 and trade at $2 million as institutional investors ignite an unprecedented BTC supply crunch.
“We can see this from tracking the flows of coins out of the exchanges, where typically people speculate or buy and sell their coins, and they have a set inventory, some of which is allocated for speculation. We’ve just seen an unprecedented amount of depletion of that inventory,” he said.
Stay tuned for more news and predictions about the price of BTC.