Cryptocurrency Future
Perceptions driven by numbers change over time. In the bull season of 2017-2018, when Bitcoin reached $20,000, it symbolized the bull market. But now, there are even people who claim that if BTC drops to $20,000, it could go to zero. This is interesting and at the same time gives us insights into the future. For example, let's consider a similar treatment for the recent bull peak of $69,000. Perhaps this is what we will experience in the next bull season. We might see mainstream media headlines saying "Bitcoin heading to zero as it drops below $60,000."
From this perspective, a six-figure price target doesn't sound too far-fetched. Especially considering that altcoins, except for Ethereum (ETH), have dropped to the 2018 peak and rebounded from there. We are now in the midst of a market that has turned around from the real bottom.
Will Bitcoin Reach $100,000? Historical data suggests that much more is possible. Of course, history doesn't magically show us the future, but Bitcoin has consistently achieved this in its young age. Popular crypto analyst Kaleo, who accurately predicted previous market bottoms, also makes a bold prediction. He previously stated that "Bitcoin will reach $100,000" in 2021, but it didn't happen. Just like PlanB's prediction that we would see it in December 2021, which turned out to be wrong.
In his recent market evaluation, Kaleo said the following:
When do you think Bitcoin will surpass $100,000?
My guess is the beginning of 2025. It wouldn't be shocking to see it towards the end of 2024. The earlier it happens, the more fun we'll have in 2025."
Kaleo's timing for Bitcoin reaching six-figure numbers aligns with the period after the expected next halving in April 2024.
So, let's leave another piece of good news for tonight. According to Kaleo, Bitcoin is breaking above the downtrend against NDX, which previously signaled the start of a major rally for him.
"Bitcoin vs. NDX. This is still one of my favorite chart comparisons to watch. BTC historically has had significant rallies against technology when it breaks above downtrends on HTF (high time frame) like shown below. This is where you accumulate."
