Analyst Predicts Bullish Bitcoin Season

A widely followed cryptocurrency analyst and trader, known as Kaleo, is leaning bullish on Bitcoin (BTC).

In a recent post to his 687,400 followers on platform X, he suggests that while Bitcoin is nearing a bull season, it may first drop beneath $82,000 before rallying above $120,000.

> “Sweep into the $80,000s is going to feel like the bottom rings of hell for altcoins after what they’ve already been through, but the bounce back across the board should be violent and glorious when it’s all over.”

As of now, Bitcoin is trading at $96,310.

Kaleo also shares insights on the Polkadot/Bitcoin pair, stating that Polkadot (DOT) is likely to rise significantly after a strong bounce at a critical support level. Currently, Polkadot is trading at 0.00005 BTC ($4.81).

On the subject of altcoins, Kaleo believes the main phase of the bull market is upcoming. He comments, “Entering into the most frictionless regulatory period the crypto market has seen in years, combined with the MOST support it has seen from the highest levels of the government, I have a very hard time believing that we don’t see significant growth in the altcoin sector outside of just memecoins.”

Kaleo foresees a lively market with a resurgence in real tech and products driving adoption, alongside some excitement in memecoins and NFTs.

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