Crypto Analyst Identifies Two ‘Promising’ Altcoins to Monitor as Bitcoin Hits ‘Range Low’
Bitcoin (BTC) must maintain its current price levels or face a significant drop, according to a well-known crypto analyst. Michaël van de Poppe, a crypto trader with a large following on social media, warns that if BTC fails to hold its range low, it could potentially lose $10,000 in value. He suggests that if the current levels do not hold, the price could drop to a range of $52,000 to $55,000. At the time of writing, BTC is trading at $61,966, showing a 5% increase over the week.
Van de Poppe also analyzes AIOZ Network (AIOZ), a blockchain project that aims to combine Web3, AI, storage, and streaming. He considers it a promising asset that is currently trending strongly. He suggests that the support level for AIOZ should be around $0.65 to $0.68, and if it holds, the price could potentially reach $1.35 to $1.45. AIOZ is currently trading at $0.853, with a 10% increase for the day.
Additionally, Van de Poppe discusses the decentralized finance (DeFi) protocol Injective (INJ), which has experienced a significant decline since December. Despite this, Van de Poppe believes that INJ still has room for growth. He states that the hype around INJ has faded, and it has dropped 70% against Bitcoin. However, he advises investors not to be loyal to one asset and instead rotate to Bitcoin to maximize their returns. INJ is currently valued at $23.69.
It is important to note that the opinions expressed in this article are not investment advice, and investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. The Daily Hodl, where the article is sourced from, does not endorse the buying or selling of cryptocurrencies and is not an investment advisor.