A well-known crypto analyst believes the best is yet to come for the crypto market. He thinks the recent surge in crypto prices is just the beginning of a massive bull run.
“The Craziest Bull Market Yet”
The analyst, known as Kaleo, says the recent crypto rally has been “insane,” with meme coins, decentralized apps, and airdrops keeping investors entertained. He compares this to the early days of DeFi in 2021, when the market was just starting to take off.
“If the early stages of this cycle are a sign of what’s to come later on, this should be the craziest bull market yet,” he says.
Sentiment is Key
Kaleo also notes that the current mood among traders is similar to what he saw in September 2023, just before the market took off.
“The last time I remember the sentiment feeling this depressed, where people were asking ‘is it really over? Will we ever have a real move higher again?’ was last September,” he says.
Bitcoin Halving is a Catalyst
Kaleo’s bullish outlook is based on the idea that Bitcoin has never ended a bull market right after a halving event, when the rewards for miners are cut in half.
“Barely cracking above the previous cycle’s all-time high and also putting the top in this early post-halving would both be completely unprecedented,” he says.
Looking Ahead
Kaleo predicts that traders who survive the potential dip in September will be rewarded in the months that follow.
“Think there’s a bit of red left this month, but we pump through the election and into 2025,” he says.
Remember:
This is just one analyst’s opinion. Do your own research before making any investment decisions. /p>
