Top Analyst Predicts 2024 Boom: Rune Explodes 230% as Bitcoin Eyes $48,000

The post Top Analyst Predicts 2024 Boom: Rune Explodes 230% as Bitcoin Eyes $48,000 appeared first on Coinpedia Fintech News

The crypto arena is abuzz with forecasts, and leading the charge is none other than the revered crypto analyst and trader, Kaleo. With a compelling foresight, Kaleo envisions a bright future for THORChain’s RUNE, a groundbreaking decentralized cross-chain liquidity protocol. In just the last two months, RUNE has skyrocketed by an astounding 230%.

Additionally, Kaleo predicts that Bitcoin (BTC), the largest cryptocurrency, is poised to surpass the $48,000 mark at the onset of the upcoming year.

RUNE Records Impressive Growth

Kaleo, renowned for his insightful crypto analyses, took to X to express optimism about THORChain’s RUNE. Noting that if RUNE manages to break above the falling trend line on the daily chart, serving as a crucial high timeframe resistance level, Kaleo believes the decentralized protocol could effortlessly reach and potentially surpass its previous all-time highs.

He also chose to comment on his bullish stance further.

“I have taken a position in RUNE by buying the dip. If there’s one thing I’ve learned over the past few months, it’s to catch the momentum. I think we can easily refresh the record if we manage to break above the high time frame resistance.”

As of now, RUNE is the 49th largest altcoin by market value, trading at $5.40. This shows a significant 231% increase from its recent low of $1.63 in October. For context, RUNE’s highest price was $21.28 in May 2021.

RUNE Over BTC?

Highlighting the technical aspect, Kaleo notes the successful overcoming of high-time-frame resistance on the THORChain/Bitcoin (RUNE/BTC) pair’s daily chart last month, aligning with the commencement of the current rally. RUNE already broke above HTF resistance on the BTC pair at the beginning of November when it started to run.

Bitcoin’s Outlook: Kaleo’s Observations

Shifting focus to Bitcoin, Kaleo draws comparisons between its current movement and patterns seen in 2020 and 2021. Based on his analysis, Kaleo expects Bitcoin to cross the $48,000 mark in the coming months.

Currently, Bitcoin is priced at $43,717, with a slight 0.28% decrease in the last day. Looking back over a week, it shows a 2.21% increase, and over a month, an impressive 19.43% rise.

In summary, Kaleo’s insights suggest promising trajectories for both RUNE and Bitcoin. As these digital assets continue to evolve, investors can anticipate potential opportunities and shifts in the crypto landscape.