A popular cryptocurrency trader and analyst has predicted the price of bitcoin will hit $100,000 in the near future, after seemingly accurately calling the bottom of the recent correction that kept BTC below the $50,000 mark.
In a series of tweets, the pseudonymous analyst gong by Kaleo on social media told his over 76,000 followers that the market correction was over and told them to “buy more now” as bitcoin, altcoins, and equities would start moving higher.
Kaleo has predicted the price of bitcoin will double to surpass $100,000 in the next few months. On Twitter the analyst posted a chart suggesting the move higher could propel BTC into six-figure territory by April.
The cryptocurrency trader’s prediction is based on bitcoin’s price movements back in 2017, when the cryptocurrency surged to a then all-time high near $20,000 before plummeting. A breakout out of bitcoin’s current range, per the analyst, would occur after breaking the $53,000 mark.
As Daily Hodl reports, Kaleo is also bullish on two altcoins he believes could surge in the near future. The first one is the native token of the SushiSwap (SUHI) exchange, which he sees moving up to $30 as it follows in Uniswap’s footsteps.
Uniswap is the leading decentralized exchange, and its UNI token was trading at $30 earlier this year before the crypto market correction saw it drop back down to $20.
The other altcoin Kaleo said he was bullish on was Enjin’s ENJ over the project’s involvement in the gaming non-fungible token (NFT) space which has been growing rapidly over the last few weeks. While the space has been growing, ENJ’s price has been “relatively quiet so far.”
The analyst predicted the price of ENJ could remain in an accumulation zone around $0.7 to $0.8 for a couple of days before moving up to surpass $1. CryptoCompare data shows the token is up 12% over the last 24-hour period and is now trading at $0.89.
As CryptoGlobe has been reporting bullish BTC price predictions have been increasing. Popular bitcoin bull and market analyst Max Keiser has argued that bitcoin’s market capitalization could surpass $300 trillion in the future, predicting the flagship cryptocurrency could surpass the U.S. dollar and become the world’s reserve currency.
Featured image via Unsplash.