Bitcoin (BTC) Price Prediction: Leading Analyst Kaleo Says BTC Will Rally to $500,000

A leading crypto analyst who accurately predicted multiple of this cycle's macro swings has forecasted that Bitcoin will rally to $500000.

A leading crypto analyst known for accurately predicting multiple of this cycle’s macro swings has forecasted that Bitcoin will rally to $500,000.

There’s an obvious vibe shift unfolding after Bitcoin reclaimed $100,000 on Thursday, sending a wave of excitement through the broader industry.

One project that’s rolling with this bullish wave is BTC Bull Token, having just crossed the $5.4 million raised mark in its viral presale campaign.

Expert Says $500K is a Bitcoin 'Magnet'

The bull run may only be getting started if the recent prediction from Kaleo rings true.

Kaleo famously predicted the bear market bottom in late 2022, alongside several other key moves.

But now, with Bitcoin hitting $103K, he believes the real gains are about to begin.

“$500K is a magnet,” wrote the analyst on X.

Bitcoin has traded inside this pattern since peaking at $67K during the 2021 bull market. After tapping the pattern’s support level, Kaleo believes that the next move will be a breakout to the upside, followed by a near-vertical rally taking $BTC to $500,000.

Indeed, given that Bitcoin is already the world’s fifth most valuable asset with a $2.04 trillion market cap, it may seem overzealous to forecast that it could gain nearly 5x from here.

However, that would still leave its market cap at approximately 50% than that of gold, which is certainly not impossible. Other industry experts such as Gryphon CEO Steve Gutterman, Bitwise’s Matt Hougan, and Robert Kiyosaki have all targeted the $500,000 mark for Bitcoin as well.

Meanwhile, transnational bank Standard Chartered apologized on Thursday for its Q2 Bitcoin target of $120,000, citing that it was “too low.”

“I apologize that my $120K Q2 target may be too low,” said Standard Chartered Head of Research Geoffrey Kendrick.

Standard Chartered also predicts Bitcoin will hit $500K, although it doesn’t expect the target to be met until 2028. However, given that Kendrick believes Bitcoin will now exceed his Q2 target, there’s every chance that they expedite the $500K target, too.

Whether or not Bitcoin makes it to $500,000 this cycle remains to be seen – but one thing is for sure – there’s a massive shift in market sentiment, and that’s sending altcoin prices rocketing.

Bitcoin Price Surge Triggers Altcoin Boom

Bitcoin’s rise is dragging the rest of the market with it – altcoin prices are soaring upon Bitcoin reclaiming $100,000.

Notably, Ethereum has exploded 20% in the past 24 hours and 28% this week. It’s also seen a staggering 149% rise in 24-hour trading volume, taking its total to $53.52 billion.

Despite Bitcoin’s solid 3% rise today, Bitcoin dominance is experiencing its biggest-consecutive red days since November, signaling that it’s losing market share to altcoins.

Kaleo says it “Feels a little bit like the early stages of alt season.”

Altcoin seasons are extended periods in which altcoins outperform Bitcoin. They typically yield immense gains for investors, since Bitcoin is also rising, but altcoins are rising faster.

So, considering Kaleo expects a 5x Bitcoin gain, some of the stronger altcoins could see massive returns this year. Experts are pointing to BTC Bull Token as one project with substantial potential.

New Meme Coin BTC Bull Token Pays Holders $BTC, Tipped for 100X by Expert

BTC Bull Token is the first cryptocurrency to pay holders real Bitcoin rewards.

The project will track Bitcoin’s price and run $BTC and $BTCBULL at milestones starting at $100K.

Since Bitcoin has already passed the $100K milestone, plans for the initial airdrop are in motion. These airdrops will continue with every proceeding $50K price increase until Bitcoin hits $1 million, leaving plenty of opportunity for community members to earn free Bitcoin.

The project also offers staking rewards, currently valued at 75% APY. However, this will decrease as the staking pool grows.

What’s unique about BTC Bull Token is that it doesn’t just market itself as a Bitcoin DeFi project; rather, it’s packaged as a meme coin.

This unique approach adds a lighthearted touch to the project and is helping it go viral.

Because of this, analysts think the project has massive room for growth. For instance, Umar Khan from the 99Bitcoins YouTube channel