Popular cryptocurrency analyst Kaleo said, Bitcoin $60,073He believes that (BTC) is ready to enter the next phase of the bull market. The analyst thinks that BTC will gain significant value by the end of 2025.
Ambitious Price Target for Bitcoin
Kaleo stated that Bitcoin could rise to around $220,000 next year by reaching the trend line of the logarithmic growth curve. The analyst made this prediction more visible by sharing an inverted Bitcoin chart.
Kaleo shared a price chart with the note, “Okay, I give up. We need to be more optimistic.”
Halving and New Highs
The analyst noted that Bitcoin has been experiencing sharp increases for several months following the block reward halving event. Kaleo expects BTC to consolidate over the next few days and then rally above multiple resistance levels.
Kaleo predicts Bitcoin to break new records and reach new all-time highs early next month.
Dollar Index and Market Effects
On the other hand, Kaleo predicts that the US Dollar Index (DXY) has peaked and could fall to 72 levels by 2026. He stated that his prediction for the DXY to fall in May 2023 has been accurate so far, and said, “Imagine this DXY chart that I drew 19 months ago working perfectly… Just imagine.”
The DXY is a metric that measures the value of the US dollar against other major fiat currencies. A decline in the DXY is considered a positive sign for risky assets like stocks and cryptocurrencies.
The future movements of Bitcoin and the rest of the cryptocurrency market continue to attract investors’ attention. While Kaleo’s bullish forecasts create a positive atmosphere in the market, caution is advised given the high volatility of cryptocurrencies. It is important for investors to closely follow global economic developments and technical analysis.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
