A popular cryptocurrency analyst is raising concerns about the potential collapse of Pepe (PEPE), a rival to Dogecoin (DOGE), as the digital asset market stagnates. Kaleo, a pseudonymous analyst with a significant following on Twitter, warns that Pepe could plummet by more than 50% from its current value of $0.000000787 to $0.000000390.
Kaleo provides an inverse chart to support his prediction. In the chart, Pepe shows signs of breaking out and potentially reaching new highs. However, the analyst believes that the asset could instead experience a sharp decline. He urges caution and urges investors to send Pepe with haste.
To further support his analysis, Kaleo also weighs in on Bitcoin Cash (BCH). He predicts that BCH will continue its downward trend as it tests a key support level at $191.21. The trader remarks that BCH appears to be heavy after a full retrace from last week’s pump. He suggests that investors send it lower, indicating his belief that BCH’s value will continue to decrease.
Additionally, Kaleo predicts that Bitcoin Cash will continue to struggle against Bitcoin (BTC) in a descending triangle pattern. His chart suggests that BCH/BTC will dip to 0.00610 BTC ($157.76) within days. Currently, BCH/BTC is trading at 0.00745 BTC ($193).
Moving on to Bitcoin, the analyst anticipates volatility until a decisive bull cycle launches sometime between 2024-2025. He believes that everything happening in the cryptocurrency market until then is just noise to shake out investors before the real fun begins. He provides a speculative price prediction for Bitcoin, stating that it could dip to around $21,000 in September, rally up to $34,000 in early October, and then retest $30,000 later in the month.
Kaleo’s prediction is partially based on historical price patterns, as Bitcoin tends to underperform in September and perform better in October and November. He suggests that bad Septembers often lead to good Octobers and Novembers for the cryptocurrency.
At the time of writing, Bitcoin is trading at $25,912, experiencing a 1% decline in the last 24 hours.
It’s important to note that the information provided by Kaleo is his own opinion and not investment advice. Investors are encouraged to conduct their own research and due diligence before making any high-risk investments in cryptocurrencies or digital assets.
In conclusion, Kaleo, a well-known cryptocurrency analyst, is raising concerns about the potential collapse of Pepe amid stagnation in the digital asset market. He also provides analysis and predictions for Bitcoin Cash and Bitcoin, detailing potential price movements and patterns. However, it’s essential for investors to exercise caution and conduct their own research before making any investment decisions.