Popular crypto analyst Michaël van de Poppe says Bitcoin (BTC) could reach $46,000 and beyond soon while opining on the value of rising altcoin STEPN (GMT).
In a new tweet, Van de Poppe shares two BTC charts with his 586,300 followers highlighting important levels for the leading crypto asset by market cap.
“If the market wants to see continuation, it has to crack that region around $42.3K for Bitcoin.
This is also a daily breaker.
If it breaks, I’m assuming a new test of $46K is around the corner and possibly $50k+.”
“So far, so good for Bitcoin.
I don’t think the upside is done, as the DXY is showing weakness…
I still think upwards continuation is likely with Bitcoin if $40.3K holds.”
Bitcoin is trading for $41,656 at time of writing.
Moving on to exploding lifestyle altcoin GMT, which equips users with non-fungible token (NFT) sneakers and rewards them for real-life steps taken, Van de Poppe says that STEPN’s current $1,900,000,000 valuation is “an absolute joke.”
“Honestly, the fact that $GMT is valued at $1.9 billion ([Fully Diluted Valuation] $18 billion) is an absolute joke, but tells a lot:
– The potential of the markets is insane and we’re still early.
– Marketing is doing its thing in crypto all over again.
– Valuations can still become ridiculous.”
STEPN is trading for $3.18 at time of writing, down 9.2% in the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Bryan Vectorartist