Bitcoin

<p>The recent developments in the Bitcoin (BTC) market have raised numerous questions among analysts about the future evolution of the flagship cryptocurrency. While many forecasts predict a sharp decline in Bitcoin (BTC) value, some observers stand out by displaying a more optimistic perspective. One such individual is the renowned crypto analyst Kaleo, whose recent analysis we invite you to discover.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/05/Bitcoin-5-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/05/Bitcoin-5-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/05/Bitcoin-5-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/05/Bitcoin-5-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/05/Bitcoin-5.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="A bitcoin coin and a graph symbolizing the rise"></div><div class="my-4"></div>



<h2 id="h-the-queen-of-the-cryptos-could-surge-above-40-000">The queen of the cryptos could surge above $40,000</h2>



<p>In contrast to Michael J. Kramer, whose rather <a href="https://www.cointribune.com/en/bitcoin-btc-michael-j-kramers-pessimistic-prediction/" target="_blank" rel="noreferrer noopener">gloomy forecasts</a> we shared yesterday, Kaleo envisions a more positive scenario for the cryptocurrency. The crypto specialist took to Twitter to announce his anticipation of a strong comeback for Bitcoin (BTC). He specifically mentioned violent upside movements that should be observed very soon. He added that this upward trend is expected to extend until the month of July.</p><div class="my-4"><div class="ads ">
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<figure class="wp-block-image size-full"><img decoding="async" width="451" height="591" src="https://www.cointribune.com/app/uploads/2023/05/kaleo.png" alt="" class="wp-image-603955" srcset="https://www.cointribune.com/app/uploads/2023/05/kaleo.png 451w, https://www.cointribune.com/app/uploads/2023/05/kaleo-229x300.png 229w" sizes="(max-width: 451px) 100vw, 451px"><figcaption class="wp-element-caption"><a href="https://twitter.com/CryptoKaleo/status/1661022902375047170?s=20" target="_blank" rel="noreferrer noopener">https://twitter.com/CryptoKaleo/status/1661022902375047170?s=20</a></figcaption></figure>



<p>Kaleo noted that the flagship cryptocurrency plunged below a significant high-timeframe support level (HTF) for several days. However, he also mentioned that it is currently recovering that support level. According to the analyst, this behavior typically heralds a violent surge in prices.</p>



<p>In this context, Kaleo <a href="https://dailyhodl.com/2023/05/23/analyst-says-final-violent-move-to-the-upside-coming-for-bitcoin-heres-his-price-target/" target="_blank" rel="noreferrer noopener">declared</a> that the price of BTC will surpass the $40,000 mark by July. This amount represents an increase of over 44% compared to the current value of Bitcoin. It should be noted that the BTC token is currently trading around $26,700.</p>



<h2 id="kaleo-predicts-an-increase-for-bitcoin-s-main-rival-btc">Kaleo predicts an increase for Bitcoin’s main rival (BTC)</h2>



<p>Earlier this month, Ether (ETH) dropped below the $1,800 mark. However, according to trader Kaleo, Bitcoin’s main rival is now trading at fork heights. The analyst emphasized that Ether won’t waste any time in reclaiming the $2,000 level.</p>



<p>“<em>Run it back to $2,000 with haste,</em>” Kaleo stated on Twitter. It’s worth mentioning that Ether is currently trading around $1,820. The second-largest cryptocurrency after Bitcoin by market capitalization has experienced a decline of over 2% in the last 24 hours.</p>



<p>While Kaleo predicts a violent surge for Bitcoin, today’s technical analysis foresees a <a href="https://www.cointribune.com/analyse-technique-du-24-mai-le-bitcoin-btc-pourrait-descendre-a-25-000-dollars/" target="_blank" rel="noreferrer noopener">descent to $25,000</a> for the flagship cryptocurrency. Analysts highlight that the mother of all cryptos exhibits considerable volatility. However, it has not yet shown signs of a significant medium-term movement.</p>

Bitcoin (BTC): Towards violent upside movements?

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🗒 Daily Newsletter | Thursday, May 25, 2023

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