Crypto analyst Kaleo, Bitcoin 
$69,491He stated that (BTC) is moving towards new highs despite falling to the $69,000 level. In his statement on the social media platform
Could Bitcoin’s 2020 Pattern Be Repeatable?
Kaleo stated that Bitcoin experienced a withdrawal to the $20,000 level in 2020 and then entered consolidation for 30 days after a decline of approximately 20%. Following the rise that occurred 219 days after the halving in May 2020, he suggested that a similar process could occur with approximately 200 days having passed since the 2024 halving.
Kaleo stated that Bitcoin’s correlation with gold is strong and gold is moving towards new peaks. Saying that Bitcoin should imitate the performance of gold or not fall behind, the analyst predicts that gold can exceed $ 8,000.
“It would be crazy if Bitcoin wasn’t going to mimic or outperform gold’s performance so far.” – Kaleo
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The analyst also wrote that Bitcoin may not experience a major correction this time, but such a movement may occur. He stated that if BTC experiences a 20% pullback, investors should be prepared for it. He stated that such corrections will be more evident in energy altcoins, but these coins may show strong performance in the return.
“You shouldn’t be surprised if a 20% pullback happens in a way you didn’t expect.” – Kaleo
Bitcoin is currently trading at $69,748, down 3.1% in the last 24 hours. According to Kaleo’s predictions, this period is a period of calm and the upcoming movements will be more evident.
These developments in the Bitcoin and gold markets carry important signals for investors. By looking at Bitcoin’s past performance and its relationship with gold, it may be possible to make informed decisions about its future movements.
As a result, investors are recommended to be prepared for market fluctuations and determine their strategies accordingly. Based on historical data, Kaleo is confident that the bullish phase has begun for Bitcoin.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
