Breaking News: Famous Whale Sends Bullish Signal: Are We at the Start of a Crypto Bull Run?

A well-known cryptocurrency analyst, Bitcoin whale, and trader believes the biggest gains in the crypto market are yet to come. The analyst, who goes by the pseudonym Kaleo, recently shared insights with his 646,300 followers on X (formerly Twitter), suggesting that the strong crypto rally from October 2023 to March 2024 could indicate the market’s direction in the months ahead.

The Start of a Crypto Bull Run

Kaleo highlights that we are just at the beginning of this crypto cycle, and we’ve already seen significant moves in the market. He points out, “We are in the early stages of this cycle, and we’ve already witnessed crazy moves, from fun meme tokens—although they become dull after a while—to engaging decentralized applications (DApps) and solid airdrops every few months that keep things exciting.” Kaleo also recalls how decentralized finance (DeFi) began gaining mainstream attention during the previous cycle.

I 100% disagree.

We’ve barely started this cycle and we’ve already had insane moves across memes that were entertaining af (though eventually got a bit played out), entertaining dapps to keep us busy, and a solid airdrop farm every couple of months.

Last cycle around this time… https://t.co/Di77OOOm3Q

— K A L E O (@CryptoKaleo) September 6, 2024

Comparing it to past cycles, Kaleo suggests this bull market could be the wildest. He notes that the crypto markets were sluggish in the previous cycle at this stage, while stocks were on the rise. According to Kaleo, if the early phases of this cycle indicate what’s to come, this bull run could surpass the previous ones.

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A Market Sentiment Similar to September 2023

Kaleo also compares the current market sentiment to September 2023, when many investors questioned whether the crypto markets had any momentum left. Back then, there was widespread doubt about whether significant movements could occur. However, Kaleo reminds his followers that the markets quickly surged after that period. He suggests we could see a similar mindset now, with some investors feeling pessimistic about the market’s future—just before a major rally occurs.

Think there’s a bit of red left this month, but we pump through the election and into 2025

— K A L E O (@CryptoKaleo) September 6, 2024

Bull Market Yet to Hit the Halving Peak

One of the reasons for Kaleo’s bullish outlook is that Bitcoin has yet to complete a bull market following its most recent halving event. As The Bit Journal has also reported, a Bitcoin halving refers to the process where the reward for mining new Bitcoin blocks is cut in half, historically triggering massive price rallies. According to Kaleo, Bitcoin has not yet reached a new all-time high in this cycle, and it’s possible we haven’t seen the full impact of the halving event yet. If Bitcoin peaks this early in the cycle, it could redefine the metrics that track these crypto cycles.

Kaleo argues that we are only in the first quarter of this cycle, and so far, it’s been more exciting than previous ones. He believes the end of this cycle is far off, and major gains may still be on the horizon for investors. While he acknowledges that there could be dips in the market during this period, Kaleo encourages investors to hold steady. He predicts that after surviving a potential downturn in September, the markets will surge ahead of the U.S. elections, leading to a strong bull market rally that could last through 2025.