A prominent analyst says Bitcoin (BTC) is on the verge of rising to $ 57,000 and following that to a new all-time high.

The analyst, nicknamed Kaleo, told his 460,000 Twitter followers that BTC is currently well on its way to moving towards $ 57,000 after breaking the psychological resistance at $ 50,000.

“The first breakthrough happened just like that. Expect a quick rally to ~ $ 57,000 followed by a slightly slower spike to $ 70,000 before a real boom (like a 2021 pennant pattern).

The source: Kaleo / Twitter

Even amid a correction that had a negative impact on investor sentiment, Kaleo predicted earlier this month that Bitcoin will hit above $ 100,000 in this bull cycle.

“I’ve said it before and I’ll say it again – I’m still expecting Bitcoin’s parabolic move with a target of over $ 100,000 this cycle.

I’m ready to scale to around $ 150,000 and beyond. Until then, keep stacking your long positions. ”

The source: Kaleo / Twitter

Analysts too Arguments that he sees Bitcoin following in the footsteps of the S&P 500 ETF Trust, which recently hit a new all-time high.

“SPY reached its highest closing score ever. Let me make it clear to you – [cùng] The argument was made this summer when BTC / crypto lagged behind SPY. It caught up. The same will happen again. ”

Kaleo said Bitcoin’s dip below $ 50,000 is a great opportunity for investors to accumulate.

At the time of writing, the benchmark cryptocurrency is changing hands at $ 50,907.

You can see the BTC price here.

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Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

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