• Crypto analyst Kaleo expects bitcoin to rally 30% to over $30,000.
• He believes that this could happen between now and February.
• Despite the recent price drawdown, Kaleo believes that there is room for a further rally.
Cryptocurrency investor Kaleo recently took to Twitter to share his expectation that bitcoin could rally up to 30% to hit a price of over $30,000. This price point, according to him, is a “magnet” for the digital asset and could be achieved sometime between now and the beginning of February.
Currently, bitcoin is trading around the $23,000 level after having reached two-month highs above that level. This has been a remarkable rally for the digital asset considering that it was trading at around $19,000 just a few weeks ago. Despite this impressive growth, Kaleo believes that there is still room for a further rally to the $30,000 level.
Kaleo shared a chart on Twitter showing a possible path that could lead bitcoin back to the $30,000 level. The chart showed that there could be some drawdowns along the way but the ultimate endpoint remains right above the $30,000 level. This would be an impressive rally for bitcoin considering that it is currently trading at around $23,000.
However, it should be noted that these predictions should be taken with a grain of salt as the cryptocurrency market is incredibly volatile and often unpredictable. Investors should do their own research and invest only what they are able to lose.
Nevertheless, the current bull rally appears to be continuing and there is a good chance that bitcoin could reach the $30,000 level in the coming weeks. If this happens, then the digital asset could reach a new all-time high and bring further mainstream attention to the industry.