Altcoins
With Bitcoin in a ‘Low Range,’ Crypto Analyst Picks Two ‘Promising’ Altcoins for Traders to Watch
A widely followed crypto analyst says that Bitcoin (Bitcoin) must maintain current price levels or face a precipitous drop.
Cryptocurrency trader Michaël van de Poppe tells from its 717,100 followers on social media platform X, BTC’s value could potentially drop by $10,000 if current levels are not maintained.
“Bitcoin is on the low end. Technically this is the area where you would prefer to see it hold, so the bullish momentum continues and the range holds.
If that doesn’t hold, then we could expect $52,000-$55,000 as the potential bottom of this correction.”
Source: Michaël van de Poppe/X
At the time of writing, BTC is trading for $61,966, up 5% on the week.
Then the analyst breaks AIOZ network (AIOZ), a blockchain project that seeks to fit into the intersection of Web3, AI, storage and streaming.
“This looks very promising and is one of the strongest trending assets.
Trend level to maintain: $0.65-0.68.
If this is lost, the region of long-term investments comes into play.
If we hold, I expect the next price might look like $1.35-1.45.
Very strong.”
Source: Michaël van de Poppe/X
AIOZ trades for $0.853 at the time of writing, up 10% on the day.
Van de Poppe too Look the decentralized finance (DeFi) Injective protocol (INJ). Even though INJ has been declining sharply since December, Van de Poppe says the altcoin has plenty of room to run.
“The hype has worn off and it is down 70% versus Bitcoin.
A great example of rotation.
It peaked in December of ’23.
Since then, Bitcoin has recorded a +70%, INJ a -40%.
Never marry your bag; rotate on Bitcoin to produce more Bitcoin.
An attractive area for a long time.”
Source: Michaël van de Poppe/X
INJ is worth $23.69 at the time of writing.
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Featured image: Shutterstock/Kiselev Andrey Valerevich