When does this expert intend to start selling his Bitcoin?

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While the Bitcoin market’s correction phase may be frightening for some investors, it may also be regarded as a favourable purchasing opportunity. Cryptocurrency prices have plummeted as a result of the recent market failures. Bitcoin, for example, was worth around $34,364 at the time of writing. This is a decrease from its peak of about $64,000 in April.

Several Bitcoin investors are waiting for the price of Bitcoin to fall in order to purchase the dip. However, depending on the trading plan upon which these activities are based, this can be called into question. Alex Kruger, a trader and economist, believes that

 

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Continuing the same thread, he further questioned,

“Is that a trading plan you would make before the fact for an unlevered mid to long term position if the underlying thesis remains relatively unchanged?”

Well, in relation to having a strategy, trader and analyst Kaleo dished out his plan of action that incorporated selling Bitcoin once it hit a certain level.

 

Further, he projected a massive surge of about 532% (upper limit) for Bitcoin from its current value by the end of the year.

“Still think it tops out w/a nice wick around $185K – $215K but my goal isn’t to snipe the top,” he said.

He stated that he will begin scaling back whenever Bitcoin falls below his price objective.

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In the past, Kaleo has been outspoken about his feelings about the major cryptocurrency. Regardless of the fact that Bitcoin was trading sideways, he remained optimistic about its future, as is seen in this chart.

Bitcoin against the IT industry (NASDAQ 100),

 

The analyst further added,

“Pay attention to the two red boxes. Bitcoin will catch up and close the gap to the growth we’ve seen in tech, and when it does – it’ll happen rapidly.”

A look at the Fear and Greed index revealed that fear was the predominant sentiment at the time of writing. Addressing the fear prevailing among investors Kaleo stated,

 

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On the other hand, as per Glassnode data, Bitcoin user growth registered all-time highs for 2021.

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