Bitcoin price correction to $14,000 and XRP price with upside potential up to $1? Well-known Crypto-Analyst & Trader
Crypto analyst and trader Michaël van de Poppe believes that the Bitcoin price is likely to undergo a significant correction before the next major rally can begin. At the same time he sees the XRP course of Bitcoin Rush as having the potential to reach a new high soon.
The well-known Crypto analyst told his 87,000 Twitter followers that the Bitcoin price could fall by up to 26% from its current level in the coming weeks. After that he expects a new Altcoin boom to start.
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Bitcoin price could collapse to $14,000
On Monday, Van de Poppe found the right words on Twitter to celebrate the achievement of the all-time high (ATH) after 3 years and to congratulate all those who still held on to Bitcoin (BTC):
Congratulations to the majority of crypto-twitterers, you have finally reached the break-even point on your position. It’s been a tough three years… Very cool what’s happening today and funny that we are only at the beginning of this new cycle.
But at the same time, he warned his followers of an impending correction in the Bitcoin exchange rate, which he believes could push the leading crypto currency back to a price of $14,000 per BTC.
I still believe that a correction is due at the BTC… One more correction towards $16,000 or $14,000 and then the real old season and party can begin.
XRP price with further upside potential of up to $1
Van de Poppe is also watching the XRP price closely to see where the third largest crypto currency by market capitalisation might go next.
We can see that we have seen a very massive uptrend on several stock exchanges from $0.20 to even $0.80. We have made a nice breakthrough that allows us to define two support levels on the daily time frame, which is around $0.30 and around $0.45…
In his opinion, Ripple’s native crypto currency must hold the $0.635 level to prevent a major downward movement. If it succeeds in doing so, the XRP price could, in his opinion, head for a new high of around $1.
We can see that we are trying to break through the resistance zone here. But if we want to maintain support, we need to hold above $0.635. If that is maintained, we could be heading for a new high, which could be around $1.00. With a loss of $0.635, markets should look to $0.45 to $0.47 as the new support zone.