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- Renowned crypto analyst Michaël van de Poppe warns that Bitcoin (BTC) could potentially fall by $10,000 if it fails to maintain its current price levels.
- Van de Poppe also provides insights on AIOZ Network (AIOZ) and decentralized finance (DeFi) protocol Injective (INJ).
- Despite a significant drop since December, the analyst believes INJ has a lot of room to grow.
Michaël van de Poppe, a widely followed crypto trader, predicts a potential drop in Bitcoin’s value and shares insights on AIOZ Network and Injective.
Bitcoin’s Potential Fall
Michaël van de Poppe, a popular crypto trader with over 717,100 followers on social media platform X, has warned that Bitcoin (BTC) could potentially fall by $10,000 in value if it fails to maintain its current price levels. “Bitcoin is at the range low. 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,” he said. At the time of writing, BTC is trading for $61,966, up 5% on the week.
Insights on AIOZ Network and Injective
Van de Poppe also shared his thoughts on AIOZ Network (AIOZ), a blockchain project seeking to embed itself at the intersection of Web3, AI, storage and streaming. He believes the project looks promising and is one of the strongest trending assets. “In-trend level to hold: $0.65-0.68. If that’s lost, then the long-term investment region comes into play. If we hold, I expect $1.35-1.45 might seem next. Very strong one,” he stated. AIOZ is trading for $0.853 at time of writing, up 10% on the day.
Furthermore, the analyst commented on the decentralized finance (DeFi) protocol Injective (INJ). Despite a significant drop since December, Van de Poppe believes the altcoin has a lot of potential for growth. “The hype has faded away, and it’s down 70% against Bitcoin. A prime example of rotation. Peaked in December ’23. Bitcoin did a +70% since then, INJ a -40%. Never marry your bag; rotate to Bitcoin to make more Bitcoin. An attractive area for a long,” he explained. INJ is worth $23.69 at time of writing.
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Conclusion
While Bitcoin’s potential fall is a concern, there are opportunities in other cryptocurrencies such as AIOZ Network and Injective. As the crypto market continues to evolve, traders and investors should remain vigilant and make informed decisions.
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