Prominent Trader Says Crypto Bull Market Still Intact Even if Bitcoin and Ethereum Drop to These Levels

Prominent Trader Says Crypto Bull Market Still Intact Even if Bitcoin and Ethereum Drop to These Levels


A top trader and crypto analyst says that Bitcoin and Etheruem could dip well below current prices and still fully be in a bull market.

The pseudonymous crypto trader, known as Kaleo, tells his 279,000 followers that while some crypto assets look vulnerable on lower timeframe charts, the long-term bullish picture still remains intact.

 

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Kaleo says a sizeable dip for Ethereum reaching close to the $2,000 level wouldn’t mark the end of the bull cycle.

“e.g. ETH accumulation down to the mid to low $2,000 doesn’t mean the bull run is over at all.”

Source: Kaleo/Twitter

The trader says that Bitcoin is in the same boat with Ethereum and that even a swift downturn of 21% from current prices would still be in line with a bull market.

“Same with BTC obviously. Another chance to bid $36,000-$40,000 is fine with me.”

Source: Kaleo/Twitter

Kaleo uses recent price action from stablecoin-focused Terra (LUNA) as an example of what could

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