Popular Crypto Analyst Says Bitcoin Surge to $40,000 to Happen Much Sooner, Issues Warning on Altcoins
A widely followed popular cryptocurrency analyst and trader expresses bullish sentiment on Bitcoin (BTC).
The pseudonymous analyst Kaleo says his 569,500 Twitter followers that Bitcoin’s rally to the key psychological level of $40,000 will be swift.
“The move from $30,000 to $40,000 BTC is going to happen much faster than most people think.
A lot of people who *want* to be bulls but are waiting for a dip will be left watching from the sidelines.”
Kaleo has previously set a goal of $40,000 for Bitcoin, saying that the most important psychological level is a “magnet”.
“This is your daily reminder that $40K is a magnet. Do you still believe me?”
As for altcoins, Kaleo says that a short-lived altcoin rally could happen when Bitcoin dominance temporarily reverses on its way to rise above 52%.
“If we’re going to see any kind of *mini* altcoin season this run, it’s probably happening here [between the Bitcoin dominance level of 47% and 52%].
The BTC dominance is testing the upper resistance of the channel it has cut for the past two years.
A slight pullback here – resulting in a slight all-out rally across the board makes sense.
Bitcoin dominance (BTC.D) is at 47.44% at the time of writing, according to Trading View.
However, according to Kaleo, altcoins will fall in value relative to Bitcoin as its flagship crypto asset renews its bullish momentum.
“To clarify, I remain extremely bullish on Bitcoin vs. altcoins on most time frames.
If anything, I see this mini altcoin rally as an opportunity for those of you overweight altcoins to rebalance your portfolio and rotate some of the profits back into BTC.
Bitcoin currently has strong bullish momentum – we are in a small pause before a massive next leg up flying right past $30,000.
Sub $30,000 is realistically your window to take advantage of this move for altcoins.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
