CandleFocus ‘Calm Before the Storm’: Trader Predicts Bullish Bitcoin Move, Says Pullback No Cause for Concern – Here’s Why
2024-11-01
Author: Content Editor
The crypto analyst Kaleo believes that despite a recent dip in price, Bitcoin is on track for a breakout and new all-time highs. He compares the current situation to Bitcoin's retesting of its previous all-time high in 2020, where it experienced a pullback before eventually breaking out. Kaleo suggests that a pullback of around 20% shouldn't be a cause for concern, and that altcoins may be affected the most but could also see the strongest rebound. He also notes a potential correlation between Bitcoin and gold, stating that Bitcoin may mimic or even outpace the performance of gold. Additionally, he predicts that gold could reach over $8,000 in the coming years. As of now, Bitcoin is trading at $69,748, down 3.1% in the last 24 hours.
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