A widely followed pseudonymous cryptocurrency trader that goes by “Kaleo” on microblogging platform Twitter has compared Bitcoin’s price chart with that of Terra (LUNA), implying the apex cryptocurrency could soon surge to new highs.
In a tweet, Kaleo compared both charts and told his over 380,000 followers on the platform to “remember the big picture” and “stack more bitcoin,” while implying the cryptocurrency was set to surge after seeing a breakout over an extended accumulation period.
Terra’s native token LUNA has seen its price explode over the last 12 months, going from less than $1 earlier this year to surpass the $40 mark this month before enduring a correction that saw its price drop back to $37 at press time, according to CryptoCompare data.
As Daily Hodl reports, Kaleo did note that he expects a slight correction before the flagship cryptocurrency moves to a new all-time high. Per his words, he sees it drop to $37,000 and “run it back turbo from there.”
He added the drop itself isn’t scary, but what would be is “selling slightly above that level to try to capture a few extra percentage points lower, only to miss your target, buy back higher and have less BTC than what you started with before the run.”
The widely followed pseudonymous analyst predicted that run would see bitcoin move past the $100,000 mark. Notably, Bobby Lee, an industry veteran who founded crypto exchange BTCC and is the brother of Litecoin creator Charlie Lee, has recently said bitcoin’s price will “easily” surpass the $100,000 mark in a rally led by fear of missing out.
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