A crypto strategist believes that Bitcoin is poised to reach new all-time highs after dropping to around $60,000 last week. Kaleo, a well-known analyst, points out that Bitcoin’s price action is reminiscent of the December 2023 to January 2024 period when the market anticipated the approval of spot Bitcoin exchange-traded funds (ETFs). He predicts that Bitcoin could rally to new record highs around the halving event, only to experience a significant correction before embarking on a steep upward trend.
The analyst shares charts showing similarities between Bitcoin’s current price pattern and its movement before the approval of ETFs in the past. With Bitcoin currently valued at $65,795, Kaleo also highlights the potential for the Binance Coin (BNB) to break out of its range and reach a new all-time high near $1,000. He is closely monitoring BNB, the utility token of the BNB Chain ecosystem, as it appears to be on the verge of a significant price surge.
In the midst of market volatility, investors are keeping a close eye on Bitcoin and BNB as they navigate through potential opportunities for growth and profitability. With Bitcoin’s price potentially mirroring past patterns and BNB poised for a breakout, both assets are attracting significant attention in the crypto space. As Bitcoin continues to rally and BNB shows signs of upward momentum, the crypto market remains dynamic and full of possibilities for traders and investors alike.