A widely followed crypto analyst is updating his outlook on Bitcoin (BTC) after President Donald Trump announced the creation of a Federal crypto strategist reserve earlier this week.
In a new strategy session, pseudonymous crypto trader Kaleo tells his 692,800 followers on the social media platform X that the unveiling of the strategic reserve is the most bullish announcement he’s heard in the history of the crypto king.
“Bitcoin has literally never had a more bullish announcement and some people are selling here.”
According to Kaleo, those panic selling the news are making a huge mistake, as he predicts the top crypto asset by market cap will once again hit a six-figure price tag in just a few days.
“You’d think Trump just signed a bill banning Bitcoin the way everyone is panic selling. The most powerful government in the world just announced they’re establishing Bitcoin as a STRATEGIC RESERVE. The largest holder of Bitcoin in the world just announced THEY AREN’T SELLING. BE MORE BULLISH.”
The trader’s chart appears to indicate that BTC will hit over $100,000 sometime in the middle of March and over $130,000 in May.
Earlier this week, Trump confirmed the US will create a crypto strategist reserve that will include BTC, Ethereum (ETH), Solana (SOL), and Cardano (ADA), causing the market to spike.
The flagship digital asset is trading for $86,891 at time of writing, a 2.7% decrease during the last 24 hours.
Generated Image: Midjourney