Bitcoin’s current price levels are crucial for its future, according to popular crypto analyst Michaël van de Poppe. He warns that if these levels are not maintained, Bitcoin could experience a significant drop of $10,000 in value. Van de Poppe, who has a following of over 717,100 on the social media platform X, believes that if Bitcoin fails to hold at its current range low, it could potentially reach a low of $52,000-$55,000 during this correction.
At the time of writing, Bitcoin is trading at $61,966, representing a 5% increase over the week.
Moving on to another blockchain project called AIOZ Network, Van de Poppe expresses optimism about its potential. He describes it as one of the strongest trending assets and highlights the importance of the $0.65-0.68 level for it to continue its upward trajectory. If this level is lost, the long-term investment region becomes significant. However, if it holds, Van de Poppe expects AIOZ to reach $1.35-1.45. Currently, AIOZ is trading at $0.853, showing a 10% increase for the day.
Van de Poppe also analyzes Injective, a decentralized finance (DeFi) protocol. Despite its recent decline, Van de Poppe sees potential for the altcoin to rebound. He explains that while it has lost 70% against Bitcoin since December, it is an example of rotation. Bitcoin has seen a 70% increase during this period, whereas Injective has faced a 40% decrease. Van de Poppe advises investors not to get too attached to a particular asset and to rotate to Bitcoin to maximize returns. Injective is currently valued at $23.69.
In conclusion, Van de Poppe emphasizes the importance of monitoring Bitcoin’s price levels and highlights the potential of AIOZ Network and Injective. However, it is essential for investors to conduct their own research and exercise caution when investing in Bitcoin or any other cryptocurrencies. The Daily Hodl, which published Van de Poppe’s analysis, reminds readers that the opinions expressed are not investment advice and that individuals should take responsibility for their own trades and transfers.
