A closely-followed crypto trader is predicting giant rallies for Bitcoin and Ethereum before the turn of the new year, but there’s a catch.
In a series of tweets, the pseudonymous trader and analyst known as Kaleo lays out gargantuan predictions for BTC and ETH in the coming months.
Among other things, Kaleo predicts that before 2022 rolls around, Bitcoin shatters $100,000 and Ethereum breaks through $10,000, all while altcoins rally hard.
My predictions for the second half of 2021:
– $BTC enters 6 figure price discovery
– $ETH breaks above $10K
– We see one more major alt season
– More institutional / government adoption
– More institutional / government FUD
– Cryptunez gets a girlfriend
– Bears remain bearish— K A L E O (@CryptoKaleo) June 17, 2021
However, Kaleo says that after the big rallies, the bears will take over the crypto markets. According to Kaleo, Bitcoin will experience a massive collapse. In the case of Ethereum, the trader predicts a crash well above 90%.
“My predictions for 2022/2023:
– BTC back down to ~$50K
– ETH back down below $1K
– Alts die again
– Bears who were bearish the whole way up from here to the top call for infinite clout
– Major regulation comes against crypto. People call Bitcoin dead again (it isn’t)”
Kaleo says at the end of the bull run, most altcoins will meltdown and destroy traders who are too heavily invested in them.
“The point I’m making with altcoins is basically everyone is going to get rugged eventually if the majority of your capital remains in sh*tcoins. It’s that simple. Plenty of money to be made on the way up. More to lose on the way down. All part of the game.
Yeah a few will survive and a good number will end up higher than where they are now 2024/2025, but in order for you to see that, you’ll have to be one of those people that forgot about your worthless bag you held on an exchange you gave up on a long time ago and rediscover one day it actually isn’t worthless.”
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The post Top Trader Expects Massive Rallies in Bitcoin and Ethereum Before 2022 – But There’s a Catch appeared first on The Daily Hodl.
source https://dailyhodl.com/2021/06/20/top-trader-expects-massive-rallies-in-bitcoin-and-ethereum-before-2022-but-theres-a-catch/