A widely followed cryptocurrency analyst believes that Ethereum (ETH) competitors are just one resistance level away from more than doubling their value.
Michael van de Poppe, cryptocurrency strategist To tell His 692,500 followers on social media platform ing.
“I think we will see continuation in other ecosystems as well. One of them is Polkadot, which is currently making higher lows on higher time frames. So DOT could continue to $17 .”
Looking at his chart, the trader suggests that DOT could surge to $17 if the $9.39 resistance level turns into support.
DOT is trading at $7.21 at the time of writing, up 1.97% over the past 24 hours.
Vendors too To tell He said he did not expect Bitcoin (BTC) to suddenly rise above the $48,000 level on Friday.
“Bitcoin breaks above $48,000. I’m surprised by the strength, but I love watching it.”
Finally, he cited a new interview in which Russian President Vladimir Putin said that U.S. debt levels are alarming.trader believe Bitcoin is a safe haven in times of economic collapse.
“President Putin said that the US $33 trillion in debt is a major concern for the rest of the world. That part is more important than we think today. Buy Bitcoin. Buy gold. It’s a hedge against bankruptcy, not inflation.”
At the time of writing, Bitcoin was trading at $47,436, up nearly 3% in the past 24 hours.
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Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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