• Crypto analyst Kaleo predicts Bitcoin will break the $100,000 level in late 2024 or early 2025.
• The prediction is based on Bitcoin’s next halving event which is expected in April 2024.
• Kaleo is watching the performance of Bitcoin against the Nasdaq 100 index (NDX).
Crypto Analyst Predicts Bitcoin to Break Above $100K
A widely followed crypto analyst is predicting when Bitcoin (BTC) will likely hit six figures for the first time in its history. Pseudonymous analyst Kaleo tells his 592,400 Twitter followers that he believes BTC will cross the $100,000 level in late 2024 or in early 2025.
Bitcoin Halving Event
His timing of BTC hitting six figures puts it soon after Bitcoin’s next halving event, which is expected in April 2024.
Performance Against NDX
The trader is also keeping a close watch on Bitcoin’s price action against the performance of the Nasdaq 100 index (NDX). According to Kaleo, BTC is breaking above a bearish downtrend against the NDX, which in the past has historically signaled the start of a massive rally for the crypto king.
Current Price Action
Bitcoin is trading for $30,676 at time of writing, up 1.3% during the last 24 hours.
Disclaimer
Opinions expressed at The Daily Hodl are not investment advice and investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that transfers and trades are at your own risk and any loses may incur are your responsibility