Crypto Expert Predicts Major Bitcoin Upswing

Crypto expert Kaleo has provided an analysis suggesting that Bitcoin prices are poised for a major increase following each halving event.

Since the 2012 halving, Bitcoin’s price has surged over 500,000%, rising from $12 to nearly $70,000, with these gains concentrated in three significant spikes over short periods.

Kaleo expects that, similar to previous cycles, substantial price increases are likely to follow the current halving. Despite potential short-term dips, he believes the real growth phase is yet to begin.

#Bitcoin / $BTC

Since the 2012 halving, Bitcoin is up more than 500,000% from $12 to nearly $70K.

The majority of that price discovery happened in three windows that lasted a grand total of less than two years.

The other ~10 years? BTC was either moving sideways or down.

Each… pic.twitter.com/cEyn4Bv9sM

— K A L E O (@CryptoKaleo) July 29, 2024

According to Kaleo, the current period—several months after the halving and with Bitcoin’s price below past highs—represents a prime buying opportunity.

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Could Bitcoin Actually Become a US Reserve Asset?

Recent data also shows that major investors are actively accumulating Bitcoin, with one whale recently moving substantial amounts of BTC from major exchanges. This trend highlights growing institutional interest.

The impact of Bitcoin as an institutional asset will be a key topic at Benzinga’s Future of Digital Assets event on November 19.

Alexander Stefanov