A popular crypto analyst, known as Kaleo, is warning Bitcoin (BTC) traders that the cryptocurrency could drop below $50,000.
Bitcoin Could Dip, But Then Soar
Kaleo, who has over 640,000 followers on social media, believes that Bitcoin could dip to the high $40,000 to low $50,000 range before surging to new all-time highs by the end of the year.
He suggests that a dip to the low $50,000s could mark the bottom before Bitcoin rockets past $80,000.
Ethereum Also Expected to Rebound
Kaleo also predicts that Ethereum (ETH) will rebound after a correction near the $2,400 level. He believes that ETH could rise back above $4,000 after finding support near $2,400.
Dogecoin Dip Is a Buying Opportunity
Kaleo views the recent drop in Dogecoin (DOGE) as a buying opportunity for traders. He believes that while the dip might seem painful, it’s a chance to buy DOGE at a discount before a potential surge in early 2025.
Disclaimer: This information is for educational purposes only and should not be considered investment advice.
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