A well-respected crypto analyst reveals what he believes is the bottom line for the top cryptos Bitcoin (BTC) is. Ethereum (ETH) and Solana (SOL).
In a new video, the InvestAnswers presenter talks to his 381,000 YouTube subscribers about how the next one correction– or bear phase for the crypto market could look like.
The analyst says Bitcoin has a good chance of hitting the six-digit mark by early next year and that a 50% correction is the most likely outcome unless a macro event leads to another decline.
“I think the retracements will be more on the order of 50%. So if we get Bitcoin to $ 100,000, which I think is still very possible early next year, we’ll drop back to $ 50,000, in the worst case maybe $ 42,000. Heaven forbid, if China invades Taiwan, or something that is very likely, or Russia invades Ukraine, these are things that could happen. That could lead to – I don’t know if I would call them ‘Black Swan’ events because everyone is seeing it coming – but if that happens, things could go very well. “
The analyst reiterates his lowest target for Bitcoin and also cites prices for smart contract platforms Ethereum and Solana.
“I believe $ 42,000 could be a good low for Bitcoin, and we’ve seen it tested a few times over the past few months. Ethereum could easily fall back to the low of $ 3,000 or $ 2,400. Solana [could go to] $ 120, $ 150, right where we were recently. I think these are the real floors.
Remember, when the world collapses, it is the risk of investing. Then you want to hold Fiat which is down 15% because other things are getting worse. “
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Source: Crypto News Deutsch