The popular analyst assesses the outlook for the leading crypto Bitcoin (BTC) and the leading altcoin Ethereum (ETH). The analyst also analyzes the short-term outlook for a decentralized finance (DeFi) altcoin.
Two scenarios for Bitcoin from the analyst
Cryptocurrency analyst alias Credible Crypto says in a new Loom video that Bitcoin will likely bounce into the $19,000 range “for some relief.” However, he adds that the alternative scenario is for Bitcoin to lose the ‘must hold’ level of $16,300-16,400 and drop to lows around $16,000.
Source: Credible Crypto / LoomAt press time, Bitcoin is trading at $16,900, up 1.83% on the day. However, Bitcoin has lost about 5% on a weekly basis.
These altcoins will also follow Bitcoin (BTC)
Credible Crypto also thinks that Ethereum will follow the course of Bitcoin. The analyst says that ETH could potentially be one foot higher. However, he states that it will ‘sooner or later’ drop to new local lows below $1,073.
Source: Credible Crypto / LoomMeanwhile, ETH was trading at $1,217 at the time of writing. The second-ranked cryptocurrency by market cap has increased by 3.81% in the last 24 hours.
The analyst also says that the native token on the DeFi platform Curve DAO (CRV) will likely follow Bitcoin and Ethereum. It is likely to make another rise towards $0.70 before returning to the $0.50 zone. He also states that the 93rd ranked altcoin in the crypto league will likely break out in a few months in 2023. Thus, he predicts it will rise to the $1.55 target.
Source: Credible Crypto / LoomCRV was trading at $0.5272 at the time of writing. The altcoin is down about 2.5% in the last 24 hours.
Analyst’s accurate predictions
to your estimates cryptocoin.com About 4 years ago, Credible Crypto correctly predicted that XRP would drop to $0.168 before rising to $0.20. The analyst also accurately predicted that XRP would rally after a correction in March 2020. Meanwhile, it is worth noting that XRP was trading close to $0.5 at the time of the forecast. In the following periods, Ripple’s token approached $ 2 as predicted by the analyst. In addition to Ripple predictions, Credible Crypto also made successful predictions for Bitcoin. The analyst knew that Bitcoin would rise above $50,000 before correcting in June of 2021. He also suggested that once BTC broke above $67,000 on Nov. The analyst hit this prediction as well.
