An influential crypto analyst believes that Bitcoin (BTC) is gearing up to kick off the next phase of its bull market.
The analyst, known as Kaleo, shared his bullish outlook with his 648,200 followers on X, predicting that Bitcoin will see significant rallies until the end of 2025.
He presented an inverse Bitcoin chart indicating that BTC is on track to reach the trendline of his logarithmic growth curve by next year, potentially reaching a price target of approximately $220,000.
“Alright, I’m giving in.
Be more [bullish].”
By analyzing the inverse chart, Kaleo suggested that Bitcoin typically experiences significant rallies following its halving event, which occurs when BTC miner rewards are halved.
He anticipates that Bitcoin will consolidate for a few more days before triggering surges that break through multiple resistance levels.
“Back to plan A.”
Based on his analysis, the analyst suggests that Bitcoin could reach new all-time highs by early next month.
At the time of writing, Bitcoin is valued at $59,997, marking a more than 3% increase for the day.
Regarding the US dollar index (DXY), Kaleo believes that it has already peaked and is set to decline to levels around 72 by 2026.
“Imagine if the path on this DXY chart I drew 19 months ago continues to play out perfectly…
Just imagine.”
Kaleo originally predicted the collapse of DXY in May 2023. The DXY has been following his projected price trajectory since then.
The DXY measures the US dollar’s value against a basket of major fiat currencies. A declining DXY typically benefits risk assets like stocks and crypto, indicating that investors are shifting their dollars to acquire risk assets.
As of now, the DXY is trading at 100.898.
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Generated Image: Midjourney
