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A well-known crypto trader and analyst that goes by the name of KALEO took to Twitter earlier this morning to share his opinion about what the price of Bitcoin (BTC) could do in the near future. In this post, the analyst expressed his exasperation with the fact that some people are still convinced that the price of BTC will drop below $20k before it reaches $40k.
BTC / US Dollar (Source: KALEO)
The analyst is convinced that BTC is doing something very similar to what the crypto king did in 2019. BTC “broke above the HTF log resistance” after which it just kept climbing higher during this time period.
In addition to this, BTC is currently in a similar time period of its halving cycle than it was in 2019. Many other crypto analysts commented on this post and while there are some people that disagree with the analyst’s opinion, there were many that agreed.
Bitcoin / Tether US 1D (Source: TradingView)
CoinMarketCap indicates that the crypto market leader is one of the many cryptos trading in the red today. BTC is currently trading hands at $27,689.97 after a 1.98% price decrease over the past 24 hours. The crypto was able to reach a high of $28,803.34 over the same time period. BTC is, however, still up by more than 12% over the last seven days.
BTC’s 24-hour trading volume is in the red zone and currently stands at $31,969,117,662 after a more than 3% drop since yesterday. In terms of market cap, BTC stands at $31,969,117,662.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.