• Crypto analyst Kaleo predicts that Bitcoin (BTC) will reach the $100,000 milestone in late 2024 or early 2025.
• Kaleo is keeping an eye on Bitcoin’s price action against the Nasdaq 100 index (NDX).
• Bitcoin is currently trading for $30,676.
Crypto Analyst Predicts When Bitcoin Will Reach Six Figures
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 believes that Bitcoin will cross the $100,000 level in late 2024 or in early 2025. His timing of Bitcoin hitting six figures puts it soon after Bitcoin’s next halving event, which is expected in April 2024.
Bitcoin vs Nasdaq 100 Index
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.
Current Price Action
Bitcoin is trading for $30,676 at time of writing, up 1.3% during the last 24 hours.
Stack to Capitalize
Kaleo suggests that investors “stack” and capitalize on this trend to get ready for potential future gains as he believes that “the earlier it happens [reaching $100k], the more fun we have in 2025.”
Disclaimer
Opinions expressed here are not investment advice and investors should do their due diligence before making any high-risk investments in cryptocurrencies or digital assets. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets and The Daily Hodl does not serve as an investment advisor either.