A widely followed crypto analyst is revealing what he thinks the floor is for top cryptos Bitcoin (BTC), Ethereum (ETH) and Solana (SOL).
In a new video, the host of InvestAnswers talks to his 381,000 YouTube subscribers about what the next correction or bear phase could look like for the crypto market.
[adinserter block="1"]The analyst says that Bitcoin has a good shot of reaching the six-figure mark by early next year and that a 50% correction is the most likely outcome to follow unless a macroeconomic event takes it down further.
“I do believe retracements will be more of the order of 50%. So if we get Bitcoin to $100,000, which I believe is still very very possible early next year, we will retrace back to $50,000, maybe $42,000 in the worst-case scenario. Like heaven forbid if China invades Taiwan or something which is looking very probable, or Russia invades Ukraine, these are things that could happen. That could bring about – I don’t know if I’d call them ‘black swan’ events because everybody can see it coming – but if that happens, things could take a big hit.”
The analyst reiterates his bottom target for Bitcoin and also names prices for smart contract platforms Ethereum and Solana.
“I do believe $42,000 could be a good bottom for Bitcoin, and we saw it being tested a few times over the last couple of months. Ethereum could easily go back to the low $3,000s, or $2,400. Solana [could go to] $120, $150, just where we were recently. I think they’re the true bottoms.
Remember if the world does collapse, that’s the danger of investing, that’s when you want to hold fiat that goes down by 15% because other things will trend worse than that. “
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