A widely respected crypto analyst has said that Bitcoin (BTCThe price of ) has to remain at current levels, or else it will face a sharp drop.
Crypto trader Michaël van de Poppe tells his 717,100 followers on the social media platform X that BTC could potentially fall by $10,000 in value if current levels aren’t maintained.
Bitcoin has reached the low of its range. This is technically the area where you’d prefer to see it hold, so the upward momentum continues, and the range holds.
If this doesn’t hold, then we might expect $52,000-$55,000 as a potential low on this correction.”
BTC is trading for $61,966 at time of writing, up 5% on the week.
The analyst next breaks down AIOZ NetworkAIOZThe project aims to be at the crossroads of Web3, AI storage, and streaming.
“This one looks very promising and is one of the strongest trending assets.
The level of the in-trend trend to be held: $0.65-0.68
If that’s lost, then the long-term investment region comes into play.
If I hold on, $1.35-1.45 could seem plausible next.
Very strong one.”
AIOZ is trading for $0.853 at time of writing, up 10% on the day.
Van de Poppe also looks at The decentralized Finance (DeFi), protocol InjectiveINJ). Van de Poppe believes that even though INJ is down a lot since December, the altcoin still has plenty of potential.
“The hype has faded away, and it’s down 70% against Bitcoin.
Rotation is a prime example.
Peaked in December ’23.
Bitcoin has grown by +70%, while INJ is down by -40%.
Rotate your Bitcoins to earn more Bitcoin.
A long-lasting attraction for the area.”
INJ was worth $23.69 as of the time this article was written.
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Source: dailyhodl.com
