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 Bitcoin will cross the $100,000 level in late 2024 or in early 2025.
“When do you think Bitcoin breaks above $100,000?
My guess is early 2025.
Wouldn’t be shocked to see late 2024. The earlier it happens, the more fun we have in 2025.”
His timing of Bitcoin hitting six figures puts it soon after Bitcoin’s next halving event, which is expected in April 2024.
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, Bitcoin 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.
“Bitcoin vs. NDX. This is still one of my favorite chart comparisons to watch. BTC historically has had massive rallies vs. tech when it has broken above HTF (high time frame) bearish downtrends like the ones shown below. This is where you stack.”
Bitcoin is trading for $30,676 at time of writing, up 1.3% during the last 24 hours.
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