Prominent economist and trader, Alex Krüger, predicts that Bitcoin would hit a new high in May 2023. With the help of his 153,500 Twitter followers, he also mentioned that the increased strength of Bitcoin against a decline in US regional banks make this prophecy more certain. A similar view is shared by Kaleo, a pseudonymous crypto strategist, who has 583,800 followers on Twitter. According to Kaleo, it is expected that Bitcoin will cross the $40,000 mark in the near future. He has made this observation based on an analysis of the BTC/SPX ratio. This assertion is further enhanced with its record breaking performance as a ‘safe haven’ from fear in traditional banking.

At present, Bitcoin is trading for $28,890, an increase of 2.2% in 24 hours. This number is far from the anticipated $40,000 level attempted by Kaleo. Despite this, he predicts that BTC will likely hit the upper high time frame (HTF) diagonal trendline in the range of $33,000 to $34,000 if it surpasses the key $30,000 in the coming week.

Bitcoin has grown immensely over the past two decades and its unpredictable volatility has made it mired with controversy. Many believe that BTC is on a path to long-term success and this makes this prophecy by Krüger and Kaleo an exciting prospect for Bitcoin enthusiasts. Krüger’s prediction, if successful, could present an opportunity for both institutional and retail investors to join the crypto market and make some potential profits.

There have been many speculations concerning the future of Bitcoin as it remains to be seen if these predictions will be correct. However, it is evident that Bitcoin is here to stay and will continue to be seen as a viable investment opportunity in the near future.



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