In the midst of relatively calm price action in the cryptocurrency markets, a highly regarded crypto strategist is expressing optimism for two popular altcoins.
Kaleo, a well-known pseudonymous analyst with a Twitter following of over 593,300, shares insights on Binance Coin (BNB) and Bitcoin Cash (BCH) and their potential for growth.
Binance Coin (BNB)
Kaleo highlights Binance Coin (BNB) as an attractive investment opportunity, particularly when priced below $250. Citing his charts, the analyst suggests that BNB could potentially reach the $300 level and even surpass its April high of over $340 within the next four months of 2023. Kaleo humorously adds, “BNB back to $300, but you wouldn’t ‘bullieve’ it.”
Currently, BNB is trading at $248, demonstrating the potential for an upward movement. Kaleo believes that Binance Coin is currently overlooked, but anticipates a surge of attention once it gains momentum. He states, “The funny thing is – no one is talking about BNB right now – but, when it finally does take off here in a bit, it’s big enough that EVERYONE will be. And everyone will talk about how obvious it was in hindsight. But… somehow it isn’t obvious now.”
Bitcoin Cash (BCH)
Kaleo also expresses positivity towards Bitcoin Cash (BCH) in comparison to Bitcoin (BTC). He believes that Bitcoin Cash offers greater upside potential when paired against Bitcoin. Sharing his recent action, Kaleo mentions taking a long position on BCH after observing its favorable outlook. He states, “After sitting on the sidelines for a few days, I punted another BCH long. Really like the way it’s looking vs. BTC here for the potential of seeing one last leg higher.”
Bitcoin Cash is currently trading at 0.00926000 BTC ($218.19), marking a substantial surge of around 140% in less than a month from its June low of 0.00386000 BTC ($117.21). This performance showcases the notable growth potential of the 15th-largest cryptocurrency by market capitalization.
In conclusion, the renowned crypto strategist Kaleo remains bullish on Binance Coin (BNB) and Bitcoin Cash (BCH) amidst the current market conditions. Their analysis suggests promising opportunities for investors who are keen on these altcoins.
