Bitcoin Short Squeeze May Reach $30,000, Top Crypto Trader Predicts

Bitcoin Short Squeeze May Reach $30,000, Top Crypto Trader Predicts

As Bitcoin breaks out of the $21k level, many crypto analysts have begun projecting further rallies for the asset. One of the famous crypto strategists, Crypto Kaleo, recently gave a high price prediction for the world’s largest cryptocurrency.

Addressing his over 550,000 followers on Twitter, Kaleo says BTC is preparing for a rally to $30,000. Bitcoin last saw $30,000 during the bear market in June 2022. However, the crypto strategist believes there would be fluctuations as Bitcoin targets $30,000, albeit his bullish stance.

In his words, the market should expect more falls before Bitcoin reaches $30,000. According to Kaleo, there would be some lows beneath $20k, which would trigger lower positions before Bitcoin can be ready for the short squeeze. 

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A short squeeze occurs when

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